IPO Report: Adyen IPO: 5 things to know about the PayPal rival

As the recent tech IPO boom bleeds into payments, European financial-technology giant Adyen NV has gotten in on the action.

The payment processor went public Wednesday in Europe’s largest tech offering of 2018. Shares priced at 240 euros and doubled early in the session, before settling near €431. The offering was “multiple times oversubscribed,” according to Adyen, which now has a market value of €12.7 billion, or $14.9 billion. Adyen said the offering size was €849 million, or €947 million if the over-allotment options are exercised.

Adyen ADYEN, +0.00% is sometimes likened to PayPal, albeit on a smaller scale.

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