Wise slides as Valar Velocity places 4m shares

Wise slid on Thursday after shareholder Valar Velocity Fund 1 placed 4m class A shares in the fintech firm via Morgan Stanley.

According to Bloomberg, the shares were placed at 897p each, which is a 1.52% discount to the last close.

At 0930 GMT, Wise shares were down 3.4% at 880.20p.

Valar Ventures is a venture capital firm backed by Peter Thiel. It was one of Wise’s early-stage backers.