Wise shareholders strongly approve plans to dispose of the British Main List

Monday 28 July 2025 18:36

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UK Fintech Wise has confined the potential shareholder rebellion to seal the transfer of the main list to the US despite an investor counterattack on additional requirements in the proposal.

More than 90 percent of class A shareholders and 84.6 percent of class B shareholders agreed to the agreement, which will make the company exchange London’s main list to New York.

Fintech faced a reaction to the plan to extend the ten-year to Super-Voting stocks that were only held by a handful of investors inside, which included Käärmann.

Stocks, representing 90 percent of the total voting rights in Wise, will end in July 2026 but the company includes an extension as part of a motion to transfer the list.

Käärmann’s efforts to expand the great voting rights triggered a strong reaction from fellow founder Taavet Hinrikus, who served as Chief Executive of London Fintech from his establishment in 2011 to 2017

Hinrikus said he was “very problematic” for the plan as an investment company Skaala, which has 5 percent of shares in Wise, faithfully against the extension.

He accused Käärmann of “lack of transparency,” adding it “was fully inappropriate and unfair to wrap this different problem together,” referring to the list that was transferred and sharing extension.

Proposal to divert the main list to the US gave a big blow to the London Stock Exchange last month.

The company quotes “better access to the deepest and most liquid capital market in the world” behind this step also provides “potential paths to be included in the US main index” and says it will maintain the secondary list of London.

Chancellor Rachel Reeves increases efforts to galvanize the list of fintech as part of the growth strategy & competitiveness of Treasury financial services.

Reeves previously promised to make England the best place for fintechs to “start, improve and register” but Wise’s steps to provide a blow to Reeves hoping for this industry,