We assisted Wise, a global technology company, on the launch of their customer shareholder program, OwnWise, acting as local counsel in the Baltics through London-based Linklaters.
OwnWise is designed to reward Wise customers. The program is available for clients based in the European Union. Customers who are accepted into the program go on to become long-term shareholders, holding shares in Wise for at least 12 months, with additional perks like bonus shares in Wise among others.
The Estonian Financial Supervision and Resolution Authority (Finantsinspektsioon) approved a public offering prospectus relating to the establishment of the OwnWise customer shareholder program in the EU on 6 September 2021. Subsequently, the OwnWise prospectus was published today and passported into all other EU jurisdictions.
Wise is a global technology company, building the best way to move money around the world. With the Wise account, people and businesses can hold 56 currencies, move money between countries and spend money abroad. 10 million people and businesses use Wise, which processes over GBP 5 billion in cross-border transactions every month, saving customers over GBP 1 billion a year.
Co-founded by Kristo Käärmann and Taavet Hinrikus, Wise launched in 2011 under its original name TransferWise. It is one of the world’s fastest-growing, profitable tech companies and is listed on the London Stock Exchange under the symbol “WISE”.
Our services and client team
In cooperation with London-based Linklaters, we advised Wise on all matters relating to the registration and passporting of the prospectus, including drafting the prospectus, coordinating the approval with the Financial Supervision and Resolution Authority, and arranging the passporting of the prospectus to all member states of the European Union.
Our client team was led by counsel Kätlin Krisak, supported by assistant lawyer Karl Joonas Kendla. The client team also included of counsel Mārtiņš Rudzītis, senior associate Dalia Augaite, associate Mirjam Metsik, and assistant lawyer Jelizaveta Lazonen.