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Some investors are keen on the US switch. Andreessen Horowitz, the US venture capital firm that is Wise’s sixth-biggest shareholder, told the FT that its position on the proposals was “an enthusiastic yes”.

UK card reader company SumUp is exploring a stock market listing that could value the business at $10bn to $15bn and offer the London Stock Exchange a rare boost.

The London-based fintech is weighing up an initial public offering in either London or New York, according to two people familiar with the company’s view.

One after another, blockbuster Chinese listings are coming to Hong Kong. In May Hengrui Pharmaceuticals, a drug manufacturer, and CATL, a battery-maker, sold $5.3bn-worth of shares between them. Seres, which makes electric vehicles, hopes to raise $2bn in the coming weeks. Shein, a fast-fashion firm, may abandon plans for an offering in London for... See more

Klarna was the eighth US IPO to raise more than $1bn this year, up from a total of seven in 2024 but far below the 28 plus-$1bn deals in 2021.

“Outcomes have been strong, and if this market backdrop holds, total US IPO volumes are on track to exceed last year,” said Sumit Mukherjee, head of equity capital markets at JPMorgan.

“The pipeline remains robust through September,” he added.

The US market for initial public offerings has exploded back to life with the busiest week for Wall Street listings since a boom four years ago.

Buy now, pay later group Klarna, the Winklevoss twins’ crypto exchange Gemini and Blackstone-backed engineering group Legence were among seven large-cap companies that went public in the US this week, the... See more

“You have to just work,” said 24-year-old Mackay Grant. “You have to be hardcore.” He skipped his college graduation from Suffolk University in Boston last year to move to San Francisco—the kind of city where “brilliant misfits have a place,” he said—and founded an AI finance startup.