Can I buy shares in Wise?

If you’re in the UK or EU and interested in investing, read on to find out what Wise is, whether Wise shares are right for you and how to get started!

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Investing can be a great way to grow your wealth. If you’re in the UK or EU and interested in investing, you’ll soon be able to buy Wise shares. Let’s explore what Wise is, whether Wise shares are right for you and how to get started!

[top_pitch]

What is Wise?

Wise, formerly TransferWise, is an online borderless bank account and money transfer service in 56 currencies. They’ve grown quickly since 2011. In the 2021 financial year, they facilitated $54 billion (£39 billion) worth of low-cost international transfers. Wise users can manage multiple currencies online, either through the app or in the browser.

In 2020, Wise received a UK licence to offer investment products. They might move into this area in the future, so watch this space.

Who can buy shares in Wise, and when?

In June 2021, Wise announced their intention to float on the London Stock Exchange. If you can buy and sell UK shares, you’ll be able to buy Wise shares from 8am BST on the day they list. At the moment, that will probably be in early July 2021.

What will Wise shares be worth?

Rather than an initial public offering (IPO), Wise is going public via a direct listing. This means the market sets the initial share price, which can make the price more volatile. Sky News reported that insiders expect the initial value of Wise shares to be between £5 and £9 billion.

[middle_pitch]

What is OwnWise?

If you’re in the UK or EU and you already use Wise for your banking and transfers, you might be eligible for OwnWise. While anyone can buy Wise shares, OwnWise is only for users. It’s a Wise program to encourage up to 100,000 of their users to become shareholders.

To be eligible for OwnWise, you must be:

  • an active Wise customer;
  • in the UK or EU;
  • not restricted by law from receiving and holding shares in Wise;
  • able to receive OwnWise benefits without any special procedures; and
  • not be a current or former employee of Wise or any Wise Group company.

OwnWise members who buy their shares during the eligibility period and hold their shares for 12 months or more will receive bonus shares worth 5% of the initial value of their shares (to a maximum of £100). They’ll also get to join a private community, and they might even win a trip to the annual conference!

If you’re eligible, you will have received an email from Wise in the last few weeks with instructions on how to register your interest.

How can I buy Wise shares?

Whether or not you qualify for OwnWise, once Wise shares are listed on the share market you can buy them through your normal brokers. If you don’t have a broker yet, you still have time to compare share dealing accounts or check out the list of brokers on the Wise investor site.

If you want to buy Wise shares on the first day, don’t leave it until the last minute. It often takes a few days to get a new account set up. The exact process for buying shares depends on your broker or share dealing account, but on most platforms, it’s very similar to online shopping.

Should you invest in Wise?

That’s up to you, so do your research. Since 2019, Wise has had a healthy revenue compound annual growth rate (CAGR) of 54%, and 42% CAGR for volume. With 10 million customers worldwide, that’s a great result. But remember: past performance is not an indication of future results, and the value of shares can go down as well as up.

If you’re just starting out, check out our guide on how to start investing for some handy hints before you dive in!

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

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