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Wise direct listing lifts London's hopes to attract fintechs

Shares of financial technology company Wise rose 10% Wednesday on their first day of listing, giving the company a $8.8 billion ($12 billion) valuation, and making it the largest technology company listed on the London stock market.

The outlook: Wise is a decade-old success story and has had several profitable years, which is seldom the case for other fintechs. The listing only involved 2.4% of the company's shares. But its success could encourage London to accelerate a planned regulatory overhaul to try to become more hospitable for potential unicorns.

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07-08-21 1057ET

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