Report
Richard-Maxime Beaudoux

ADYEN: Pre-IPO investors completed a placement of EUR1.5bn | SELL | EUR490

ADYEN - SELL | EUR490(-25%)
Pre-IPO investors completed a placement of EUR1.5bn

PE funds completed a placement of ~2.5m shares at EUR600
We expected such a placement
We maintain our Sell recommendation and FV of EUR490
Underlying
Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Richard-Maxime Beaudoux

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