Wise (LSE: WISE) is the latest UK-listed company planning to move its primary stock market listing from London to the US, while keeping a secondary listing on the London Stock Exchange.
The company announced the proposal on Thursday, including plans to create a new Jersey-incorporated, UK tax-resident parent company. Shareholders will vote on the structure on 28 July. If approved, the change would take effect in the second quarter of 2026.
The board is backing the move. Chair David Wells said the US offers better access to capital and stronger visibility in what is already Wise’s largest market. The company processed over $185 billion in cross-border payments last year and believes a US listing will help it scale further.
AstraZeneca, the FTSE 100’s largest company, is also reported to be considering a switch to the US. That follows a string of other high-profile departures, including Arm and CRH. London’s position as a global listing hub is clearly under pressure.
Wise says it remains committed to the UK, where around 20% of its staff are based, but the direction of travel is hard to ignore. US markets offer higher valuations, greater liquidity, and a deeper pool of growth-focused investors.
Unless the UK can offer stronger incentives and a more competitive environment, this trend is set to continue. With each high-profile departure, London edges closer to becoming a back-up option rather than a first-choice destination for the world’s most ambitious companies.