Adyen (Europe) IPO

Hi everyone,

I recommended in april this year Wirecard which was at around 100 euro per share.

After 2 months and a half it is now at 144. I decided to sell my last shares (trimmed at 128) today after a more than 50 % rise (bought my first shares at around 92) because the valuation is getting a bit to rich in my opinion.

Adyen, a competitor of Wirecard and others like PayPal, is launching its IPO on the Amsterdam stock market on june 13. The stock will be valued at around 7 or 8bn $ (people estimated more).
The stock price will be around 250 euro.

The stock will have a smaller market cap than Wirecard with a higher revenue growth.

Adyen also just started business in Asia, the leading continent in ecommerce and mobile payments. So alot of growth should come in the next months/years.

They have some clients like Facebook, Netflix, Spotify and even took the contract from Paypal for eBay.

One of the risks is that the 10 biggest customers of Adyen represent 33% of the sales.

I didn’t do much of research for the moment but I will probably start a small position with the money I got from selling Wirecard.

You can find here below an article from cnbc that resumes the situation.…

Do you guys have any thoughts on the company or the sector itself?

Best to all,


“On the morning of Adyen’s first day of trading in Amsterdam, the stock popped 100 percent – doubling to 480 euros ($564). While usually that would be a screaming signal that the IPO bankers had seriously undervalued their client, in this case you could hardly argue that Adyen’s initial price was cheap. At 240 euros per share, it was already valued at about 100 times last year’s earnings. Now that multiple is closer to 190. It’s a nosebleed valuation worthy of Netflix Inc.”…