The call to wake up from Wise London

Another week, another blow to the capital market in London. This time it was the transformation of Wise, one of the brightest technology stars in the United Kingdom, which She announced that she will replace her main list To New York.

This step, which is 11 billion pounds in a new alert, was placed around the group of listed companies and the fees of the consultants in the box.

Charles Hall, head of research at Bill Hunt, said that the consulting companies are now “earning more money that sells our business more than inserting them, which is destroyed by the city from a long -term point of view.”

The Wise advertisement came hours after Cobalt Holdings, one of the hopes of the rare list in London for this year, Closed plans For a preliminary general offer. Just a few days ago, an opium therapy arm was revealed by Reckitt in 2014, and revealed that it would turn its list to New York.

But the exit of a shock from Wise may be treated with a particularly heavy strike, and has led to broader questions about London’s ability to retain the United Kingdom’s technology companies.

Wise, founded by Estonians Kristo Kärman and Taaveet Hinrikus, was the excellent success story from the rush of companies that focus online on the advertisement in 2021.

Investors are still slipping through these catastrophic lists, which included delivery, called “” The worst public subscription in the history of LondonHer shares decreased sharply and were never recovered. Deliveroo also leaves the London Stock Exchange after that The acquisition of 2.9 billion pounds accepted Last month of Doordash.

Most of the companies that were included in 2021 and then destroyed the value, while the two – Made.com and in style – ended up in management.

On the contrary, Wise’s evaluation has increased by fifth since the inclusion. As a result, a city consultant from Wise was unable to complain about a gap in the evaluation between London and New York. Also, you cannot use thinking – as published by Ferguson, plumbing group, or giant jams – that made the largest part of its revenues abroad because only five businesses are in the United States.

The most disappointing thing, WISE was in parallel to move to the FTSE 100 index, as it could reach deeper liquidity than the negative tracking boxes.

But instead, Fintech New York, as it can keep the first -class double -class structure forever, instead of getting rid of the deadline for five years, as in London. Its decision comes less than a year of government reforms-including dual-class structures-which companies were supposed to encourage the list and stay in the United Kingdom.

“Al -Hakim is another invitation to wake up to the government,” said Bill Hunt Hall. “She chose to be included here, you’ll become FTSE and instead she voted with her feet.”

It is evidence that 2025 will not reflect London Awesome performance in 2024When he suffered from the worst year to leave since the financial crisis. A total of 88 companies have installed or transferred their basic list from the main market in London, and only 18 companies occupied.

Indeed, this year, Unilever Amsterdam chose London to be inserted into the ice cream unit, and Challenger Chopruk stopped plans while looking at another road. What was supposed to be a great list in London worth 50 billion pounds from Shane this year. It is increasingly unlikely.

Two highlights of the city’s consultants that the New York stock exchange has a larger team of employees dedicated to fishermen abroad for the London Stock Exchange, which focused on winning companies planted on its soil. LSE refused to comment.

A senior employee of a company that is likely to be included in London said: “What the wise loss should be is to realize the realization of the government that there is a need to take action now, and not after another long consultation, to encourage companies to start the list and stay in the UK and stay in the United Kingdom.”

During the first three months of this year, the acquisitions of UK companies listed on subscriptions surpassed subscriptions from three to one, according to Aj Bell Research. In the year to date, seven small companies were included in the middle of the market only, including MHA and Achilles Investments, a total of 176.18 million pounds.

Meanwhile, the great departure included the Cyber ​​Security Company Darktrace and Hargreaves Lansdown, the investment platform, both generated by private stock companies.

“The acquisitions are thick and fast while the subscriptions remain rare,” said Ross template, an analyst at AJ Bell.

This has an impact not only on London mode, the treasury ability to collect stamp fees, but also on the broader ecosystem of city companies and consultants.

“It is clear that there are fewer subscriptions at the present time and this will clearly affect the total fees in that space. This scarcity can sometimes create pressure on the fees on specific situations,” said Simon Nicole, a co -head of companies and operations in slaughter.

Building pressure. Earlier this month, Melis put its bankers at London Equity Markets on a notice after the deals are scarce. The cuts come on similar warnings in RBC and reduce the capital market teams in HSBC.

“We are currently working on more special transactions in London-that companies come out of the market-from public subscriptions-which they add-but this is true in most markets throughout Europe and the United States,” said Julian Bretchard, head of global transactions at Freshfields.

However, he added that there is still a pipeline of public subscription candidates who were only waiting for more stable markets to restore confidence.

Banker now Install their hopes On the planned menus from Monzo, Ebury, Zopa, Clearscore and ZILCH, although some can now slip until next year and beyond.

Mark Austin, Consultant at Latham & Watkins and part of the Capital Market Industry Squad A group of city numbers Pressing the reforms to revive the UK market – insisted that London is still the most attractive destination in Europe to obtain lists.

“Al -Hakim is not slight on the capital market in London, where it was somewhat valuable and in addition to public subscription and other technical stocks.” Austin believes that London should go further with its repairs and make the double structure of permanent degree permanent, instead of the 10 -year deadline for entrepreneurship founders.

The Financial Conduct Authority, responsible for drafting the inclusion rules, refused to comment.

Austin is not alone in his desire for the government to go faster.

There is also a long -term campaign to cancel the stamp fees on stocks to enhance more British ownership of local companies, although the Treasury depends on billions of pounds that it generates for their tanks.

The Treasury said in a statement: “The United Kingdom is a major center in Europe for investment, and by reforming the inclusion rules and creating a new stock exchange for private companies, we are the money of reform to make the United Kingdom the best place for companies to start, size and exist,” the Treasury said in a statement.

Simon Franch, head of economics at Panmure Liberum, called on the government to “sharpen the pipeline for companies” by providing the same tax incentives for the main market lists as for AIM, the novice market in London.

“We should not wait for the loss of the 10 best monster monster until the government wakes up and act,” Hall said.