Dutch payments processor Adyen launched on the Amsterdam stock exchange on Wednesday with its shares gaining 75% within a few minutes.
The company, which counts Facebook, Netflix and Spotify among its clients, sold some 14% of its shares at €240 but they were changing hands for €400 shortly after trading opened.
By 10.30, the shares were up at €462.
The IPO, which was only open to institutional investors, is the largest since the re-launch of ABN Amro bank in 2015.
All of Adyen’s 750 staff, from top management down to the coffee lady will benefit from the IPO, as all have been granted stock options, the FD said.