Wise to establish ADR program

Wise plc (LON:WISE) has taken steps today to establish a level 1 American Depositary Receipt (ADR) program in the US by filing a registration statement on Form F-6 with the US Securities and Exchange Commission.

It is expected that Wise’s ADRs will begin trading on the over-the-counter (OTC) market on 8 September 2021, under a ticker symbol that will be announced closer to the program’s effective date.

The ADR program will complement Wise’s existing primary listing on the London Stock Exchange. One Wise ADR will represent one underlying Wise class A ordinary share. The program does not involve the issuance of new shares or the raising of new capital by Wise.

ADRs allow US investors to buy shares in foreign companies without the need for cross-border or cross-currency transactions. They are priced in US dollars and can be traded like shares of US-based companies listed on the OTC market.

J.P. Morgan has been appointed as the depositary bank for the Level 1 ADR program.

Let’s recall that, on July 7, 2021, Wise’s entire issued class A ordinary share capital admitted to the standard listing segment of the Official List of the FCA and to trading on the London Stock Exchange’s Main Market for listed securities under the ticker “WISE”.