One of London’s most prominent fintech firms Wise is set to move ahead with a planned IPO in London this week.
Wise has drawn up plans to launch the listing on the London Stock Exchange, according to Sky News, in what will be a closely watched test after Deliveroo’s much-ballyhooed IPO failed to meet expectations.
City sources told Sky News that the exact timing could still be affected by regulatory sign-off.
Wise – formerly known as TransferWise – could be valued in the region of £9bn on its flotation.
Last week Sky News reported that the firm would pursue a direct listing.
Wise declined to comment on the report.
London’s status as a listing destination for the world’s most-hyped tech firms is a matter of some debate.
Chancellor Rishi Sunak is pushing ahead with plans to open up the listings regime in the UK to make the capital more appealing.
But Deliveroo’s botched float – with analysts suggesting the price was too high and the company itself attacked on ESG grounds – has reportedly made firms more wary.
Wise, though, have been a part of the London tech ecosystem for years and are widely considered to be one of the capital’s most appealing success stories.