Triodos steps onto the Amsterdam stock exchange

A Triodos bank branch in Spain. Photo: Depositphotos.com

Green bank Triodos became the fifth Dutch bank to be listed on the Amsterdam stock exchange on Wednesday, joining ING, ABN Amro, Van Lanschot Kempen and Rabobank.

The move, the bank said in a statement, is aimed at “enhancing accessibility for both new and existing investors” and follows several years of turmoil surrounding the bank’s depository receipts.

In January, Triodos offered holders of its depository receipts €10 per receipt in compensation for their sharp fall in value since 2020 when trading on the Captin platform was halted.

The bank also said it was taking a €101 million pre-tax provision over last year to fund the settlement, which it expected to have a “significant impact” on its profit for the year. The bank had announced last year it was preparing for an IPO following weak demand after trading in the DRs was resumed.

A total of 14,467,056 depository receipts held by shareholders will now be traded under the symbol ‘TRIO’ on Euronext Amsterdam.

The bank, which was founded in the Netherlands in 1980, has nearly 750,000 customers across five countries.

Chief executive Marcel Zuidam pledged at the launch that the bank would stay true to its principles. “We don’t invest in the arms trade, in factory farming and in fossil fuel and that will remain so,” he said.

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