Cross-border payments business Wise chose to join the standard list through a direct listing where the share price is determined by the opening auction on the London market. This took until just after 11am and the starting price was 800p. There was significant trading in the following hour.
The share price ended the first day of trading at 880p, which values the A shares at £8.75bn. There were 61.74 million shares traded during the day. That should have been worth more than £500m.
There are two classes of shares and that is why this is a standard rather than a premium listing. The class...
