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Adyen Rules Out Share Buyback
Co-Head of Dutch Payment Processing Company Says No to Buyback
Adyen has instructed a financial intermediary to proceed with an orderly sell-down of up to 35,000 shares.
Adyen NV's co-head has ruled out a share buyback. The company has instructed a financial intermediary to proceed with an orderly sell-down of up to 35,000 shares.
The decision comes after Adyen's shares plunged almost 40% on Thursday after a hiring spree and competition in the U.S. The company's net revenue grew 24% year-on-year to 913.4 million euros in the first half of the year.
Adyen is a Dutch payment processing company that provides businesses with a single platform to accept payments from customers around the world.
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