Wise : founder sells shares at discount, stock falls

Published: 2021-10-22 03:17:07 ET WISE.L

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.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Anil D'Silva)