UK fintech company Wise shareholders have voted to shift the fintech’s primary listing from London to New York.
Following this announcement, investors at the money transfer firm approved its relisting plan, which will also result in a 10-year extension of its dual-class share structure that gives extra voting rights to its founders.
According to Financial Times, Wise's co-founder urged shareholders to reject the relisting proposal, mentioning that governance changes in the shake-up risked betraying the London-headquartered company’s principles. Wise’s dual-class structure gives optimised voting rights to class B shareholders over those who own class A stock. With this in mind, shareholders owning more than 90% of class A stock cast their votes in favour of Wise’s proposal to relist in the US. At the same time, shareholders owning almost 85% of class B stock also backed the move.
More information on Wise’s plan to switch its main listing to New York
At the beginning of June 2025, the company announced that the move was expected to increase its appeal to US investors and optimise its overall expansion plans in the economy of the region. In addition, according to officials of the institution, the initiative of switching to a primary US listing will accelerate its growth strategy and bring important capital market benefits to the firm. The move was expected to also allow its shares to trade on both a US stock exchange and the LSE, enabling the firm to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market.
The decision was expected to fuel anxieties over the appeal of the London market, which has struggled to compete with Wall Street and suffered setbacks in recent years as multiple institutions and companies have either exited London or made it their secondary listing. At the same time, while Wise’s market capitalisation has increased during its almost four years on the London industry, the firm has also drawn scrutiny from regulators.
