Madrid’s Allfunds mulls post-Easter Amsterdam IPO, seeks €7-8bn valuation

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Madrid’s Allfunds mulls post-Easter Amsterdam IPO, seeks €7-8bn valuation

Allfunds, the Madrid-based fund distribution firm, has been brewing off an option to go public on Euronext Amsterdam as early as by April this year, media headlines published later this week had unveiled citing unnamed sources given the scale of sensitivity of the issue.

Nevertheless, followed by reveal of the media topline, industry analysts claimed that a post-Easter Amsterdam IPO (Initial Public Offerings) of Allfunds could be the Europe’s largest initial offering of a financial services provider this year.

On top of that, reaffirming the media topline, a press agency report published late on Friday had quoted two sources familiar with the proceedings as saying that the wealth-tech firm, jointly owned by American private equity fund Hellman & Friedman, French lender BNP Paribas, Zurich-based borrower Credit Suisse alongside Singaporean sovereign wealth fund GIC, was working out a plan to express its intent of a public market floatation as early as after Easter this year, while Allfunds was planning to start public market trading by late-April or early-May with a target valuation of up to €7-€8 billion.

Allfunds eyes public market floatation after Easter

Nonetheless, despite growing media speculation about an Allfunds public market floatation after Easter, Allfunds owners had declined to comment over the issue while being asked over the subject-matter, however, sources had added that Allfunds, the Madrid-based fund distribution firm that offers supporting services to mutual funds across the globe, would more likely to announce a targeted earning between €250 to €280 million this year excluding interest, taxation, depreciation and amortization before its planned floatation.

After Santander and Intesa Sanpaolo had sold off their stakes in Allfunds back in 2017s, the wealth-tech company merged with fintech firms such as Credit Suisse’s InvestLab and Finametrix, while the Madrid-based fund distributor had also forged a strategic partnership with French lender BNP Paribas, a number of strategically pivotal moves which bring in Credit Suisse and BNP Paribas as minority stakeholders in Allfunds.