www.varchev.com

Adyen shares soar 78 percent on first day of trade in $8 billion IPO

Shares of Dutch fintech firm Adyen surged over 66 percent at the market open on their first day of trade on Wednesday in Amsterdam, in what is one of Europe’s biggest technology initial public offerings (IPO) in recent times.

On Tuesday, Adyen priced its shares at 240 euros ($281.6), which was at the upper end of the range the company had previously indicated in its prospectus. This gave the company a market capitalization or valuation of 7.1 billion euros ($8.3 billion).

But shares opened at 400 euro, marking a 66 percent rise from the 240 euro pricing. Shares hit a high of 427.9 euros, giving the company a valuation of 12.6 billion euros or ($14.8 billion).

The Dutch firm is not issuing new shares. Instead, it’s shareholders are selling their stock, which amounts to 13.4 percent of outstanding shares, to institutional investors.

Adyen is a payments processing firm that works with customers including Netflix, Facebook and Spotify. It also sells points of sales systems for physical stores and handles payments online and in-store. Adyen processed payment volumes of 108 billion euros ($127 billion) in 2017, up from 66 billion euros the year before, representing 63 percent growth. And this has been growing strongly each year.

Source: CNBC


 Trader Aleksandar Kumanov


Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance