Payment company Wise goes public

The digital money exchange and shipping agency Wise, formerly known as Transferwise, will go public at the beginning of next month.

There is no IPO, but a so-called direct listing. In addition, incumbent shareholders can sell their shares to the market. No new shares are issued and no new capital is raised.

The opening price at which the share trades on the London London Stock Exchange is determined by auction. Not by investment banks based on institutional interest.

It is said that Wise, founded by Estonian Kristo Käärmann (photo) en David Hinrikus, around six billion worth euros.

After the IPO, a customer loyalty program will be started. Customers can join OwnWise, a vehicle that enables power users to acquire a share of the global company.

Wise helps its six million active users to transfer money to other countries quickly and at low, transparent costs. In the past year, there was 63 billion euros in money back and forth, which gave Wise a turnover of 491 million euros (+54%). It realized a profit (EBITDA) of EUR 127 million from this.

Photo: MoneyConf (cc)


Source: Nieuws – Emerce by www.emerce.nl.

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