(Bloomberg) -- Adyen BV, a Dutch financial technology company backed by Silicon Valley billionaires, is set to announce as soon as Thursday its plans to go public, people familiar with the matter said.
A stock sale, raising as much as 1 billion euros ($1.2 billion), might be held as early as next month, said the people, who asked not to be identified because the details aren’t public.
Adyen will decide on a final valuation based on investor feedback in the coming weeks, said one of the people. The announcement would make the startup’s listing plans official and start the public marketing process for the company leading up to the offering.
People familiar with the matter previously said the valuation could range from 5 billion euros to about 10 billion euros.
A representative for Adyen declined to comment.
In January, Adyen was poised to pick JPMorgan Chase & Co. and Morgan Stanley as its advisers, people familiar with that matter said at the time.
A listing by Adyen would come as several companies have pulled their IPOs this year amid a volatile market. Faced with lack of demand from investors or going public at valuations they considered too low, companies in Europe have withdrawn IPOs worth almost $6 billion this year, according to data compiled by Bloomberg.
Last month, Adyen said in a statement that it generated $1.14 billion in 2017 revenue, up more than 50 percent from $700 million the previous year.
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