Wise Group plc has launched a share buyback program to repurchase up to £405 million of its Class A ordinary shares. This initiative represents a total value of approximately $540 million.
The program commenced today and will conclude by March 31, 2027. Goldman Sachs International will execute the repurchases on the London Stock Exchange and Nasdaq.
The company intends to reduce its share capital and fulfill employee share scheme obligations. Wise will allocate 40% of the repurchased shares to its Employee Share Trust. The company will hold the remaining 60% of the shares in treasury.