Wise (Transferwise) have stated their intent to list on the London Stock Exchange through a direct listing. It would be great if we could get access when it goes live (no date set yet).
Hey @gizmo2501, thanks for the request.
We are tracking this one closely and will add it as soon as it’s available on the market.
Awesome! Good to know. Thanks Sam.
Also, looks like the title I put was changed. As I understand it, it won’t be an IPO. It is a direct listing instead.
It looks like they are initially only allowing current customers to invest (limited to 100K) through their ‘OwnWise’ programme. They will give an additional 5% share bonus to these first investors if they hold for a year.
I must say I’m interested. From a user standpoint, they are bar far the best forex I’ve used, and are innovating at a good rate. Their borderless account and credit card is an amazing facility, particularly as my wife and I (and families) are from two different countries. Fees are rock bottom as well.
From an investment standpoint, their numbers are impressive - rapid growth, profitable (how rare is that for a start-up tech firm!) and huge additional growth potential going forwards.
I’ve put my pre-application in to be a shareholder. It’ll be interesting to see where this one goes.
Well said Mark, I’ve also put my name down
How do you put your name down for this I’m lost but the prospect look good
They emailed users with the link/details about a week ago
I use wise every ~6 months and apparently I’m not deemed ‘active’ so not eligible to purchase shares. A shame.
I use Wise all the time as I work with US companies. I’ve opted into the scheme as I think they are excellent, and shockingly enough they are a startup making a profit!
I doubt they will go in this direction, but wish they did a full business banking service as they make transfers and payments so easy, and I’d like to see what they could come up with for banking.
Any idea when they will go live? This is a company I really believe in so I would like a piece of the pie.
Think it’s on or around 7 July
Be good to know if Freetrade customers will be able to participate in the WISE opening auction, as announced by the LSE.
Hopefully that means they can list it at 11:22 on the app also.
is this on freetrade yet?
Hey @lucas, we plan to have this live on your app around 11:22 AM when it hits the secondary market, yes.
Looks like it’s slated to open at around 750p, or around £7b. That puts it at a 16.6x multiple compared to 16x for PayPal, 10.9x for Payoneer and 11.8 for Square which I’d say are closest public comps. Payoneer is breakeven/unprofitable, PayPal has a much higher margin and Square has a very low margin.
Interestingly, Payoneer requires an almost identical amount of transaction volume as Wise to generate $1b in revenue (~$129b), and is growing at basically the same rate (albeit unprofitably), so fascinating to see how much of a premium Wise get over them.