Taavet Hinrikus, co-founder of Wise Plc, has urged shareholders to vote against the company’s proposal to move its primary listing from London to the United States.

Hinrikus, through his investment vehicle Skaala Investments OÜ, expressed concerns about transparency and governance related to the proposed shift.

The proposal includes extending Wise’s dual-class shareholder structure, which was introduced during its 2021 direct listing.

In a letter to shareholders, Skaala criticized the combined nature of the resolutions.

He said that it forces shareholders into an “all-or-nothing” decision.

The letter advocated for the option to approve a dual listing while rejecting extended voting powers for Class B shares.

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