London-listed fintech group Wise has announced its intention to move its primary public listing to New York in a potential blow to the UK public markets.<\/p>\n
Announced in the company\u2019s results for the year ended March 2025, Wise said it would be seeking a dual listing in the US to \u201caccelerate our mission and bring substantial strategic and capital market benefits\u201d.<\/p>\n
Though Wise\u2019s move will not see it delist from the London Stock Exchange, where it has been since its initial public offering in 2021, moving its primary listing to the US can be seen as a blow to the British markets.<\/p>\n
As well casting further doubt over the attractiveness of the London markets at a period where it is struggling with its image, the move also shows the company\u2019s focus is shifting towards an American investor base with deeper pockets.<\/p>\n
Chief executive Kristo K\u00e4\u00e4rmann said the move would help the company \u201cdrive greater awareness of Wise in the US, the biggest market opportunity in the world for our products today, and enabling better access to the world\u2019s deepest and most liquid capital market\u201d.<\/p>\n
\u201cThe UK is home to some of the best talent in the world in financial services and technology, and we will continue to invest in our presence here to fuel our UK and global growth,\u201d K\u00e4\u00e4rmann said.<\/p>\n
Wise reported a 15% revenue increase for the year, reaching \u00a31.2bn. The international payments firm\u2019s pre-tax profit rose 17% to \u00a3564.8m.<\/p>\n
Shares in Wise jumped around 10% on Thursday morning.<\/p>\n
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