Wise obtains FCA approval for LSE listing
Following the announcement on 24 June 2021 of its confirmed intention to float, Wise today confirms that its Prospectus in respect of its anticipated listing has been approved by the FCA and published by the company.
Admission is expected to take place at 08.00 am (London time) on 7 July 2021. The opening auction in respect of the Shares will commence at 7.50 am (London time) on this date and last for 190 minutes, with normal dealings in the Shares expected to commence no earlier than 11.00 am (London time).
Upon listing, Wise will have a dual class share structure in place with two classes of shares in issue, class A shares and class B shares, in order to support Wise’s focus on its mission as it transitions into the public markets. Class B shares hold 9 votes per share, are strictly non-transferable and, amongst other voting right cancellation events, expire on the fifth anniversary of any listing.
All of Wise’s shareholders and holders of vested options as at 23 May 2021 are entitled to elect to receive 50% of their class A share holding in the Company with additional corresponding class B shares on a 1:1 basis (save for Kristo Käärmann, CEO and co-founder of Wise, who is entitled to elect to receive 100% of his class A share holding in the Company with additional corresponding class B shares on a 1:1 basis).