Shares of Dutch fintech firm Adyen surged over 66 percent at the market open on their first day of trade on Wednesday in Amsterdam, in what is one of Europe’s biggest technology initial public offerings (IPO) in recent times.
“I’m very proud to be building this company with such a great team. This listing will only help us to continue to do what we are doing now: helping our merchants grow and reshaping the payments industry,” Adyen CEO Pieter van der Does said in a statement on Tuesday.
The IPO marks one of Europe’s biggest technology listings in recent times, behind Swedish music streaming service Spotify in April. Spotify’s IPO was not a traditional IPO however and it decided to list in New York.
Europe’s technology scene has been growing in recent years with a number of “unicorns” or companies with $ 1 billion valuations minted in recent years, particularly in the financial technology space. Swedish payments firm Klarna and British peer-to-peer lending firm Funding Circle are two such companies, with the latter rumored to be going public later this year.
“Today’s IPO on Amsterdam’s Euronext exchange is a big day for the company, and for fintech startups reinventing the centuries-old financial services industry,” Jan Hammer, partner at Index Ventures, Adyen’s biggest shareholder, said in a blog post published Wednesday.