Dutch payment solutions provider Adyen BV will launch an IPO, which will see it list about 15% of its shares on Euronext Amsterdam.
The company will offer existing shares on a pro rata basis through a private placement to institutional investors. Sources close to the matter told Reuters in April that Adyen could raise about €1 billion in the IPO, which would value its whole business at between €6 billion to €9 billion.
Morgan Stanley & Co. International PLC and J.P. Morgan Securities PLC will act as joint global coordinators and joint book runners for the offering. ABN AMRO Bank NV, BofA Merrill Lynch and Citigroup Global Markets Ltd. will also be joint book runners.
Adyen and the selling shareholders will also enter customary lockup agreements with the underwriters.
The prospectus for the offering still awaits approval from the Netherlands Authority for the Financial Markets. Although Adyen did not state when the offer period begins, Reuters previously said it could be launched in mid-June.
Adyen, which processes payments for Airbnb, Uber, Spotify and Netflix, among others, reported first-quarter net income of €24.1 million, up from the year-ago €14.1 million.
