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Shares in Dutch payments company Adyen soar 70 percent after hot IPO

Reuters  |  AMSTERDAM 

By Toby SterlingAMSTERDAM (Reuters) - Shares in Adyen, which handles the payments backend for Netflix, Facebook and eBay, surged more than 70 percent at the start of trading on Wednesday following its initial public offering.Shares had been priced on Tuesday at 240 euros, the top of their indicated range, suggesting a market capitalization of 7.1 billion euros ($8.5 billion). Their first trade on Wednesday was at 400 euros, an increase of two-thirds.After several European IPOs were pulled in May, bankers may hope the strong interest in Adyen spills over into other upcoming deals, such as ...

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First Published: Wed, June 13 2018. 13:05 IST