The open market valuation of Adyen NV, a technology company offering payment processing services worldwide, has soared since it began trading on Euronext Amsterdam just a week ago.
The company’s initial public offering (IPO), at €240 per share, gave it a market capitalisation of around €7.1 billion on the day of listing.
On 20 June it was trading at €415.10, giving it a market capitalisation in excess of €12.2 billion.
The initial proceeds of the IPO were €849 million but this rose to around €947 million on the full exercise of the over-allotment option included in the listing prospectus.
The free float is 3,945,362, representing approximately 13.4 percent of the total number of 29,445,458 issued and outstanding shares.
Adyen is the largest tech unicorn-IPO in Europe in the last five years, based on market capitalisation at opening, according Euronext. A unicorn is commonly defined as a start-up company with a value of over US $1 billion.
Euronext, headquartered in Amsterdam, has built a single platform that enables the acceptance and processing of cards and local payments globally across it merchants’ online, mobile and point of sale (POS) channels.
According to Euronext, its global platform has integrated and simplified the payments value chain, enabling it to partner with large merchants to rapidly scale their businesses both locally and globally.
