(Reuters) -Money transfer company Wise on Thursday said it intends to move its primary listing to the U.S. from London, the latest British company to do so.
Wise, which will maintain a secondary listing in London, had been exploring its listing options lately – a move seen across the London markets due to stunted growth opportunities and lower valuations at home.
“We believe the addition of a primary U.S. listing would help us accelerate our mission and bring substantial strategic and capital market benefits to Wise and our owners,” the company said.
Metals investor Cobalt Holdings, backed by Glencore, also scrapped its plans for a London IPO on Wednesday, which, according to one source, was driven by a lack of demand.
In recent months, Unilever chose Amsterdam for the primary listing of its ice-cream business while fast-fashion firm Shein has been considering Hong Kong after plans for a London IPO were met with Chinese regulatory hurdles, according to sources.
(Reporting by DhanushVignesh Babu, Yamini Kalia and Prerna Bedi in Bengaluru; Editing by Janane Venkatraman)
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