Appetite for shares in the profitable money transfer outfit shows the City can bring off a big tech listing
Wise, formerly Transferwise, is a low-fee processor of cross-border payments and very successful – pre-tax profit doubled last year to £41m and the business is still grabbing share from sleepy banks. The reason for the relative lack of fanfare was Wise’s novel approach to joining the stock market: a direct listing in which the shares simply start trading after a three-hour auction to get the show rolling.
from The Guardian https://ift.tt/3hQ55cm
via Google News