In its IPO, Adyen is not selling new shares. Instead, its shareholders are selling their stock, which amounts to 13.4 percent of outstanding shares.
The largest shareholder is early backer Index Ventures which invested in Adyen in 2011. It owns 16.86 percent. General Atlantic is another major backer with 10.82 percent of the company. Adyen also managed to get funding in 2015 from Iconiq, a highly secretive wealth management firm that manages investments for the likes of Facebook boss Mark Zuckerberg. While it was a private company, Adyen had raised around $266 million from various investors.
Late on Tuesday, Adyen set the price for its IPO at 240 euros per share, which was at the upper end of the range the company had previously issued. This gives the company a market capitalization or valuation of 7.1 billion euros ($8.3 billion). Adyen's last valuation that it disclosed was $2.3 billion in 2015.
Shares of Adyen will begin trading on the Euronext in Amsterdam where they will be listed under the symbol "Adyen".