Spanish fintech Allfunds is targeting a valuation of over $8.31 billion from a planned Amsterdam initial public offering, according to a source familiar with the transaction.

The company launched its bid to list on Euronext Amsterdam earlier on Wednesday, saying it is targeting to list 25% of its shares on the Dutch bourse, with private-equity owner Hellman & Friedman selling the shares.

Reuters reported last month that the Madrid-based fund-distribution firm would launch the IPO after the Easter break with a targeted valuation of 7-8 billion euros, citing sources close to the matter.

Allfunds is one of the world’s leading wealthtech companies with a service offering which includes data & analytics, portfolio & reporting tools, research and regulatory services. Created in 2000, today Allfunds offers the largest fund distribution network globally and access to the world’s largest universe of mutual fund and ETFs.

Hellman & Friedman LLC is an American private equity firm, founded in 1984 by Warren Hellman and Tully Friedman, that makes investments primarily through leveraged buyouts as well as growth capital investments.

Can’t stop reading? Read more