Wise is bundling co-founder’s enhanced voting rights into ballot on US listing. It deserves to lose | Nils Pratley

Claims the two issues are inextricably entwined reads as self-interested waffleIf Wise, the money transfer company whose £10bn valuation makes it a big fish in London’s small pool of quoted financial technology companies, was only proposing to switch its primary listing to New York, its plan would probably sail through.A few UK shareholders may regret the loss to the London stock market of a success story out of Shoreditch. But they usually vote in favour when management – in this case, the Wise co-founder Kristo Käärmann – says “major US growth opportunities” would be best pursued with a US listing. Continue reading...

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