Adyen N : executives sell 15% of their stakes for total $822 million

Several top executives at Dutch-based payment-processing company Adyen have each sold 15% of their stakes in the company, cashing in 693 million euros ($822 million) in all.

Co-founders Pieter van der Does and Arnout Schuijff, who are CEO and chief technology officer respectively, along with Ingo Uytdehaage and Roelant Prins, the CFO and chief commercial officer, sold the shares in an accelerated bookbuilding at 1,365 euros per share, the company said in a statement.

Shares in the company, which closed at 1,420.50 euros on Thursday, have risen more than 500% since its initial public offering a little more than two years ago.

The executives' move was intended to "diversify their portfolio and reduce single-stock risk", the company said, adding that all of them intend to remain with Adyen and will not sell more shares for 180 days.

Adyen reported slowing growth in its 2020 first-half earnings on Thursday.

(Reporting by Toby Sterling; Editing by David Goodman)