LONDON — Dutch payment business Adyen has announced plans to list its shares publicly in Amsterdam.
Adyen said on Thursday that it will IPO on the Euronext Amsterdam exchange later this year. Existing shareholders will sell around 15% of its shares in the offering.
Adyen’s biggest investor is Index Ventures, the London-based venture capital firm, and it is also backed by Iconiq Capital, a Silicon Valley fund backed by an incredible lineup of billionaires including Facebook’s Mark Zuckerberg and Twitter cofounder Jack Dorsey.
Reuters reports that the company is seeking a valuation of between €6 billion ($7 billion) and €9 billion ($10.5 billion) in the public listing.
Adyen’s core product is an integrated payment platform that lets companies process both online and offline payments through one system. Customers include Facebook, Uber, Netflix, Spotify, L’Oreal, eBay, Microsoft, and Tinder.
The company, which was founded in 2006, processed €108 billion ($126.3 billion) of payments last year and had net revenues of €218 million ($254.9 million). Adjusted earnings were €99 million ($115.7 million).
CEO Pieter van der Does said in a statement: “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.
“This offering provides us with the freedom to keep building the company, while offering our shareholders a path to liquidity. Adyen will remain a company that is driven by a long-term vision and strategy.”
Adyen said it wants to grow revenues by 20-30% over the next few years and expects to grow revenues by 40% this year.
JPMorgan, Morgan Stanley, ABN Amro, Bank of America Merrill Lynch, and Citigroup are all working on the offering.
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