LONDON, June 24 (Reuters) – British financial technology company Wise confirmed on Thursday that it plans to list in early July, in a test for London’s main market as investor appetite for company floats starts to wane.
The company, formerly known as TransferWise, plans to do a direct listing on the London Stock Exchange rather than sell shares at a set price in advance, with the opening price to be determined in an open auction on the date of admission to the exchange.
Bookrunners said trading was expected to start on July 7 after a management roadshow that begins on July 1.
The London-based payments app, founded in 2010 by two Estonian entrepreneurs, has not given an estimate for how much it expects to be valued at. Sources told Reuters in April it could be worth between $6 billion…