Shares in VC-backed Adyen surged on their first day of trading on the Euronext Amsterdam exchange.
The Dutch payments company had priced its shares at the upper end of the range at some €240, but the stock opened at €400 and hit a high of €495 during its debut, valuing the business at north of €13 billion.
Adyen did not issue new equity with the listing. Instead, existing investors including Index Ventures, Felicis Ventures and General Atlantic used the flotation to cash in some of their stakes, reportedly selling 13.4% of the company's shares to institutional investors.
The IPO, announced last month, is a part of Adyen's plans to move from a pure-play processing software company and widen its product offering, after receiving a banking licence last year.
The company's shares (AEX: ADYEN) closed at €455 each on Wednesday.