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Clifford Chance acts as transaction counsel on a EUR 1.5 billion post-IPO placement of Adyen shares

14 March 2019

Clifford Chance acts as transaction counsel on a EUR 1.5 billion post-IPO placement of Adyen shares

Clifford Chance Amsterdam acted as transaction counsel on the sale by certain shareholders of approximately 2.5 million shares in the capital of Euronext listed company Adyen, the Netherlands-based payments platform provider. The sale was carried out through an accelerated bookbuild offering to institutional investors and settled on Thursday 14 March 2019.

The shares were priced at EUR 600, resulting in approximately EUR 1.5 billion gross proceeds for the selling shareholders. J.P. Morgan and Morgan Stanley acted as joint global coordinators and, together with ABN AMRO Bank, BofA Merrill Lynch and Citigroup, as joint bookrunners on the placement.

The participating shareholders did not include any of Adyen’s management board members or entities controlled or owned by them, or any of Adyen's employees. This is the second follow-on transaction executed following Adyen's highly published IPO in June 2018, where Clifford Chance acted as issuer's counsel to Adyen. The Clifford Chance team for the placement was led by Han Teerink and furthermore consisted of Evert van der Kaa and Tom Smeele (Corporate / ECM Amsterdam) with Mark-Jan Arends providing notarial advice. Paris-based Alex Bafi, Olivier Plessis and Ryan Bosch advised on matters of U.S. law