Amsterdam-based Adyen officially filed to IPO in its home country in a deal that would value the company at up to $8.3 billion. However, in a somewhat unusual move, the entire proceeds of the IPO will go to insiders selling stock, an amount that could go as high as $1.1 billion. The company says it will raise no money for itself in the process.
“We feel that we are still in the early stages of a remarkable journey,” said Adyen cofounder and CEO Pieter van der Does, in a statement. “Our focus remains on building new functionality and on helping our merchants grow. This offering provides us with the freedom to keep building the company while offering our shareholders a path to liquidity. Adyen will remain a company that is driven by a long-term vision and strategy.”
The Adyen IPO would be the biggest European tech public offering since the Spotify IPO that valued the Swedish company at around $26 billion.

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