Dutch ethical bank Triodos has started preparations for an IPO in Amsterdam, after deciding its current system of boosting value through trading in depository receipts does not provide the “adequately functioning trading solution” certificate holders are looking for. 

Triodos began an evaluation of its multilateral trading facility for its DRs last year following receipt holders’ concerns. People who own DRs effectively own shares in the company that owns Triodos’ share capital and do not have voting rights. 

“We considered whether improvements to the functioning of the trading facility would be capable of resolving the identified issues effectively,” chief executive Jeroen Rijpkema said in a statement.

“We have concluded a listing on Euronext will provide improved accessibility and therefore a better fit with new and current investors.”

The bank, which was founded in the Netherlands in 1980,  has nearly 750,000 customers across five countries