18th Aug 2021 14:31
(Alliance News) - Wise PLC on Wednesday said it will start an American Depositary Receipt programme, allowing investors in the US to effectively buy shares in the company without the need for cross-border, cross-currency transactions.
The ADRs are expected to begin trading on the US over-the-counter market on September 8, Wise said. One ADR will represent one Wise share. JPMorgan Chase & Co has been appointed as the depositary bank.
Shares were up 1.5% to 1,005.00 pence in London on Wednesday afternoon.
Wise, a London-based company offering international money transfers, went public through a direct listing last month. Shares have since jumped 26% from the July 7 opening price of 800p, giving it a market capitalisation on Wednesday of around GBP10.00 billion.
By Ivan Edwards; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Wise Plc