After announcing its intention to go public in May, today Adyen published more details with the finances filled in. The Netherlands-based payments startup — which competes against the likes of PayPal and Stripe to power payment services both to online and physical retailers — said that it will be raising between €922 million and €947 million (approximately $1 billion and $1.1 billion) June 5-12, before it opens for trading on the Euronext Amsterdam on June 13 trading as “ADYEN.” If all goes to plan, the sale will give Adyen a market capitalization of between €6.5 billion and €7.1 billion ($7.6 billion – $8.3 billion).
The 4,189,102 shares being sold bvalued at €220 and €240 per share represent 12.7 percent of the company’s issued and operating share capital, Adyen said.
The figures speak both to the generally strong climate for tech IPOs at the moment, and the strength of Adyen’s business and business prospects.
“We feel that we are still in the early stages of a remarkable journey. Our focus remains on building new functionality and on helping our merchants grow,” said Adyen’s CEO and co-founder Pieter van der Does, in a statement. “This offering provides us with the freedom to keep …read more
Source: Tech Crunch