Fintech firm Wise plans to launch London listing this week – Sky News By Reuters

(Reuters) – British fintech firm Wise is planning to launch a direct listing on the London Stock Exchange as soon as this week, Sky News reported on Tuesday, citing sources.

Insiders expect the flotation of the company, formerly known as Transferwise, to value it in the region of 4 billion pounds to 5 billion pounds ($5.63 billion to $7.04 billion), the report said.

The exact timing of the listing depends on final approvals from regulators which means an announcement could yet be delayed until later in the month, according to the report.

Wise did not immediately respond to a Reuters request for comment.

Reuters had reported in April that Wise was planning an initial public offering that could value the company at $6 billion-$7 billion.

($1 = 0.7101 pounds)