"London has the potential to be a global fintech centre, and someone like Wise listing on the stock markets gives other companies options," Rosh Wijayarathna, a managing director in the corporate banking division at Silicon Valley Bank, said. Wise, a cross-border payments firm formerly known as TransferWise, made its market debut on Wednesday, becoming the biggest tech company to list on the London stock exchange. But while Wise has raised hopes, potential market debutants and their bankers will first watch carefully how Wise shares trade after their initial jump. Wise shares started trading at 800 pence and by 1530 GMT on Thursday had risen to 960 pence. Irrespective of how Wise shares trade, such a large listing will be a signpost for other firms, Keith Grose, head of international business at U.S.-based fintech Plaid, said.

Source: Mint July 08, 2021 17:26 UTC