On this picture illustration, the TransferWise emblem is seen displayed on an Android cell phone.
Omar Marques | SOPA Pictures | LightRocket | Getty Pictures
LONDON — British monetary expertise agency Smart mentioned Thursday it expects to go public on the London Inventory Trade by way of a direct itemizing.
Smart, which was previously often called TransferWise, mentioned it was in search of a direct itemizing relatively than an preliminary public providing. Direct listings permit companies to go public with out elevating any contemporary capital.
The information marks an enormous win for Britain, which is hoping to lure extra giant tech companies to checklist in London relatively than New York.
Smart mentioned it will additionally introduce a buyer shareholder program known as OwnWise, which might let customers personal a stake within the firm.
“Smart is used to difficult conference, and this itemizing isn’t any exception,” mentioned Kristo Kaarmann, CEO and co-founder of Smart.
“We’re ten years into constructing a brand new strategy to transfer cash around the globe — sooner, cheaper, simpler and utterly clear. A direct itemizing permits us a less expensive and extra clear strategy to broaden Smart’s possession, aligned with our mission.”