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Adyen IPO: PayPal Rival Soars in Debut

The stock was up almost 70% after one day

By William White, InvestorPlace Writer

http://bit.ly/2sThuTV

The Adyen IPO is good news for the new rival to Paypal Holdings Inc (NASDAQ:PYPL).

Adyen IPO: PayPal Rival Soars in Debut
Source: Shutterstock

The Ayden IPO started out with the company setting the price at $281 on Tuesday. However, it quickly climbed to $470 when trading started on the Euronext Amsterdam market today. This represents a 67% increase from its starting price.

The starting value of $281 per share for the Adyen IPO valued the company at $8.4 billion. Now that the stock has surged in price after a successful first day on the market, the company now has a value of $14 billion.

“Tomorrow, we will issue no new shares — all we will really do is welcome on board new shareholders and give existing external shareholders the flexibility that they are looking for,” Adyen CEO Pieter van der Does said in an email to employees obtained by VentureBeat.

Arnout Schuijff, co-founder and CTO of Ayden saw a major boost to his value from the Ayden IPO. He sold $72 million worth of the company’s stock during the IPO. The co-founder also still retains a 6.4% stake in the company. This comes to more than $1 billion.

Pieter van der Does currently has a 4.6% stake in the company. Due to the surge in stock price during the Ayden IPO, his stake in the company now has a total value of roughly $800 million, reports Bloomberg.

Adyen is a payments company that handles transactions for several other large companies. It’s clients include Netflix, Inc. (NASDAQ:NFLX), Facebook, Inc. (NASDAQ:FB) and former PayPal owner eBay Inc (NASDAQ:EBAY).

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/06/adyen-ipo-paypal-rival-soars-in-debut/.

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