New blow to UK stock market as £12bn fintech to list in New York

The online payments company Wise has said it will move its main share listing to the US, in the latest blow to London's stock market.

- Lauren Almeida

Wise, which is one of the biggest financial technology businesses in Britain and has been listed in London since 2021, said yesterday that it now intends to dual-list its shares in the US and the UK in an attempt to attract more investors and boost its value.

The company's chief executive, Kristo Käärmann, said moving its main listing would help "drive 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's deepest and most liquid capital market.

"A dual listing would also enable us to continue serving our UK-based owners effectively, as part of our ongoing commitment to the UK. The 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."