Direct listings offer IPO alternative following Wise success

Shares in Wise, the UK fintech group, had traded up more than 22% by Friday afternoon compared to the price at which it completed the first ever direct listing by a technology unicorn on the London Stock Exchange on Wednesday. Equity bankers hailed the transaction as an alternative route to going public when the IPO market is difficult but the list of companies that could do such a deal is short, writes Aidan Gregory.