The London Stock Exchange has suffered a fresh setback after Wise, the UK-based fintech giant valued at over £12 billion, confirmed plans to shift its primary share listing to the United States.
Wise, a major player in global money transfers, announced it will adopt a dual listing structure, retaining a secondary listing in London while moving its main presence to a US exchange. The company, formerly known as TransferWise, first floated in London in 2021 in what was then the largest tech listing in UK history.
The move is aimed at attracting more investors and unlocking higher valuations, particularly from US markets. Wise CEO Kristo Käärmann said the shift would boost awareness in the US—its largest market—and provide better access to the world’s deepest capital pool. He emphasised the company’s continued commitment to the UK, praising British talent in finance and technology and reaffirming Wise’s plans to invest in UK growth.
The decision is a further blow to the London stock market, which has faced a string of high-profile departures in recent years. Firms such as Flutter Entertainment, Ashtead, and CRH have already moved their primary listings to the US, while others, including Indivior and Cobalt Holdings, have pulled out of or downgraded their UK presence.
Wise’s announcement also follows the 2023 decision by Arm Holdings, the Cambridge-based chip designer, to list in New York instead of London—despite lobbying by UK officials.
Shares in Wise rose by 10% on Thursday, pushing its market value beyond £12 billion. The company posted a 15% rise in revenue for its 2025 financial year, reaching £1.2 billion, with pre-tax profits up 17% to £564.8 million.
Wise said it would soon call a shareholder vote to approve the listing changes. The firm argued that a US primary listing could pave the way for inclusion in major American indices, boosting liquidity and demand.
Analysts say the move complicates the company’s eligibility for the FTSE 100 and reinforces the perception that London is struggling to retain high-growth tech businesses. Matt Britzman of Hargreaves Lansdown commented that while maintaining a London presence made strategic sense, the reality remains that another top UK tech firm is chasing better opportunities across the Atlantic.
Despite the shift, Wise insists its UK base remains important. Around 20% of its global workforce is located in Britain, and the firm plans to continue hiring and investing domestically.
Founded in 2011 by Kristo Käärmann and Taavet Hinrikus, Wise has rapidly grown by offering a low-cost alternative to traditional banks for international money transfers, serving both individuals and small businesses.
