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    ICAD   FR0000035081


Real-time Quote. Real-time Euronext Paris - 10/15 11:35:12 am
67.65 EUR   -0.22%
10/15Shares in French tech champion OVHcloud gain 6% in Paris debut
10/15Shares in French tech champion OVHcloud gain 6% in Paris debut
10/14Advent plans London listing for Rubix
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

France's OVHcloud aims to raise $470 mln in Paris IPO

09/20/2021 | 02:12am EDT

* Hoping to raise 400 mln euros by issuing new shares

* Company was hit by a fire earlier this year

PARIS, Sept 20 (Reuters) - French cloud computing services firm OVHcloud aims to raise 400 million euros ($469 million) by selling new shares in an initial public offering (IPO) in Paris, it said on Monday.

Releasing its IPO registration document, the company said it hoped the flotation would accelerate its growth - consolidating its leading position in Europe while helping it to continue expanding in North America and Asia.

French politicians have championed OVHcloud as a possible alternative to U.S. cloud services providers, but it has so far lacked the scale and financial clout to dent their market share.

OVHcloud did not provide details on the timing of the IPO, nor on its expected valuation.

The Wall Street Journal reported on Sunday the deal could value the company at more than $4.7 billion.

OVHcloud had announced IPO plans in March, two days before a major blaze destroyed one of its data centers in eastern France that led to a delay. In June, the company re-committed to an IPO, but provided no timetable.

It joins a flurry of recent flotation announcements on the French market, including from Icade Sante, the healthcare property business of French real estate firm Icade .

Family-owned OVHcloud added it was targeting revenue growth of 10-15% for 2022 and organic revenue growth rate in the mid-twenties by 2025.

These targets would be achieved while maintaining an adjusted EBITDA (earnings before interest, tax, depreciation and amortization) margin in line with that in fiscal 2020, it said.

No dividend payments were anticipated in the mid-term with cash-flows expected to be re-invested, it added.

Following the IPO, the Klaba family will retain a substantial majority stake in OVHcloud.

Based in Roubaix near Belgium, OVHcloud employs 2,450 people and has more than 30 data centers worldwide.

($1 = 0.8535 euros) (Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta and Mark Potter)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ICADE -0.22% 67.65 Real-time Quote.7.55%
ICADE SANTÉ SAS 0.00% 0.01 Real-time Quote.0.00%
WISDOMTREE CLOUD COMPUTING UCITS ETF - ACC - USD -0.37% 60.59 Delayed Quote.13.85%
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More news
Sales 2021 1 531 M 1 773 M 1 773 M
Net income 2021 127 M 147 M 147 M
Net Debt 2021 6 334 M 7 337 M 7 337 M
P/E ratio 2021 45,8x
Yield 2021 6,08%
Capitalization 5 121 M 5 940 M 5 931 M
EV / Sales 2021 7,48x
EV / Sales 2022 6,82x
Nbr of Employees 1 162
Free-Float 40,7%
Duration : Period :
Icade Technical Analysis Chart | ICAD | FR0000035081 | MarketScreener
Technical analysis trends ICADE
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 67,65 €
Average target price 76,93 €
Spread / Average Target 13,7%
EPS Revisions
Managers and Directors
Olivier Wigniolle Chief Executive Officer
Victoire Aubry Head-Finance, Legal & Information Technology
Frédéric Thomas Chairman
Laurent Maheu Head-Research & Studies
Marie-Christine Lambert Independent Director
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