Allfunds, Europe's largest IPO in 2021, set for Amsterdam exchange

Madrid-based Investment platform Allfunds confirmed on Wednesday that its initial public offering will happen on Euronext in Amsterdam. According to the company, the IPO in Amsterdam will take place within the next few weeks and at least a quarter of Allfunds' existing shares will be sold, ANP reported.

According to people close to the matter, the IPO is speculated to be Europe’s largest initial public offering of a financial services group in 2021, Reuters reported. The same sources also cited that trading could start later in April or early May, adding that Allfunds could be valued at 7-8 billion euros ($8.2-9.4 billion) on the stock market.

Allfunds boasts 1.3 trillion euros in assets under distribution, giving clients access to more than 2,000 fund houses and 100,000 funds, Reuters reported. By the end of 2020, the company's annual revenue was estimated at 370 million euros. It also supplies dealing services and digital tools for data and analytics, portfolio and reporting, research, and regulatory services.

The wealth-tech company Allfunds is jointly owned by private equity fund Hellman & Friedman, Singapore’s sovereign fund GIC and lenders BNP Paribas and Credit Suisse. Established in 2000, the company says it offers the largest fund distribution network globally and access to the world’s largest universe of mutual funds and ETFs.

This year, several companies already listed on the Amsterdam exchange, including the Polish provider of parcel lockers InPost and the developer of business parks CTP. On March 31, the Amsterdam stock exchange reached its highest point ever, a record which was broken again a few days later.

The trading volume in the Dutch capital has already quadrupled within one month in January as a result of Brexit, and later in February equity trading on the Amsterdam stock exchange has for the first time overtaken London.