After raising €1.1 billion in its initial offering and pricing its shares at €240 each last night, Adyen, the Dutch payments company went public today with a bang. It opened for trading this morning on Amsterdam’s Euronext exchange at €400 a share, an impressive jump of 67 percent.
The share price is currently €435, giving it a market cap of €12.367 billion, or $15 billion in current currency. It’s gone as high as €440 today. We’ll update this number periodically today.
This all represents a big jump on Adyen’s valuation. In a statement last night announcing its initial offer price of €240 per share, Adyen said this implied a market capitalization of €7.1 billion, based on the current number of Shares outstanding.
The writing may have been on the wall for its strong performance this morning even then. Adyen said yesterday that the offering was “multiple times oversubscribed… with strong demand from institutional investors globally.” Adyen is selling between 12 percent and 13.4 percent of its issued and outstanding shares, the latter figure representing if the over-allotment option is exercised in full.
Adyen’s strong performance underscores both the strength for tech IPOs at the moment, as well as the strength of …read more
Source: Tech Crunch