Booming London-based fintech firm Wise is set to launch a direct listing in London in the coming days, it was reported on Tuesday.
According to Sky News, the company, which has made its name in recent years as a money transfer specialist offering an alternative to incumbents such as Moneygram and Western Union, has set out plans to float on the London Stock Exchange “as soon as this week”.
The firm – branded as TransferWise until a rebranding exercise in February – was apparently awaiting approval from regulators, which could see the announcement pushed to later in the month, Sky said.
Expectations in the City are for the company to be valued at at least £5bn and up to £9bn, with its board and advisers possible heading for the more cautious end of that scale amid turbulence in the listed fintech sector.
Wise started as a basic money transfer service in 2011, and now moves around £5bn every month for its 10 million customers.
A direct listing means the firm would go public without raising new capital from investors.
