Direct listing proves Wise decision

摘要

UK payments group WISE made an unusual debut on the LSE on Wednesday, beginning with a unique 190-minute opening auction as the company eschewed a traditional IPO in favour of a US-style direct listing that proved reassuringly smooth. The opening print of 800p valued the fast-growing company at £8bn and 36.8m Class A shares were matched in the auction, representing about 3.7% of share capital and above the 24.24m shares guaranteed to be supplied in the auction, showing additional shareholders were satisfied with the valuation.