Please remember, investment value can go up or down and you could get back less than you invest. The value of international investments may be affected by currency fluctuations which might reduce their value in sterling.
About Wise
Wise (formerly TransferWise) operates a money transfer company that allows users to send money internationally. They are launching a direct listing that will start trading shares on the London Stock Exchange on 7th July 2021. With the recent change of its name, Wise is looking to expand its services and improve its international banking functions.
The company was founded in 2011 by Taavet Hinrikus and Kristo Käärmann and is based in London. It has grown to offer money transfers and multi-currency accounts to over 10 million customers. More than £5 billion is now sent with Wise every month. In July 2020, the company was valued at £3.7 billion.
A direct listing enables existing investors to monetise their shares, and is a quicker option for companies who may already have secured private finance before coming to market.
It's also regarded as fairer than an IPO, where the underwriting bank typically offers shares to institutions first with retail investors only able to participate after admission to trading.
Graeme Evans, Contributor at interactive investor
Read: Wise: what you need to know about this £5bn stock market float
Here’s how to buy Wise shares:
1. Wise (WISE) first day of trading - 7th July 2021
Wise will float on the London Stock Exchange through a direct listing. The shares will come straight to market and enter an auction phase without any new shares being issued. This is different to the usual IPO process.
The opening auction will start as normal at 7.50am on 7th July 2021. It's expected to take three hours longer than a normal auction process as private shareholders meet public investors for the first time. Automatic execution of orders, including those placed on your ii account, are expected after the initial auction. This should end at around 11am.
If you don’t already have an account, please follow the next step below. If you have an account, please go to step 3.
2. Open an account
You can buy and hold Wise shares in our Trading Account, ISA, Junior ISA and SIPP. Simply choose which new account you wish to open.
3. Buy and hold Wise shares in your account
You will be able to submit orders for Wise shares from 8am on 7th July 2021. Log in to your account and select ‘trade now’ under the 'trading’ section. Next, select your account and enter 'WISE' as the 'Shares/ETF name'. Then choose the amount of shares you wish to buy.