The Mitsui-backed money transfer service formerly known as TransferWise was valued at $5bn in a secondary share sale almost a year ago.

Wise, the UK-based operator of a cross-border capital transfer service, revealed yesterday it plans to launch a direct listing that would give conglomerate Mitsui a chance to sell its shares. The company plans to list on the London Stock Exchange, and the direct listing approach means it will not issue any new shares or hire…

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