Wise Plc co-founder sells shares at discount, stock falls By Reuters

(Reuters) – A Wise Plc share sale by co-founder Taavet Hinrikus was priced at 815 pence, a bookrunner for the placement said on Friday, marking a 4% discount to the British company’s closing price in the previous session.

Hinrikus sold about 10 million Class A shares in the company, which specialises in cross-border money transfers, through an accelerated bookbuilding process, the bookrunner said.

Wise, whose shares fell about 5% in early deals on Friday, said a day earlier OÜ Notorious, Hinrikus’ private investment firm, will hold on to its 54 million class B shares.