PARIS, Oct 15 (Reuters) - Shares in French cloud computing
company OVHcloud climbed around 6% on their first day
of trading on Friday, after a brief wobble, in one of Paris'
biggest new listings this year.
The shares were up at around 19.70 euros at 0739 GMT, after
dipping just below the offer price in early trading.
OVHcloud had on Thursday set its IPO price at 18.5 euros per
share, the low end of its guidance range, implying a market
value of around 3.5 billion euros ($4.1 billion).
"It's a great day for French and European tech sovereignty,"
said French technology minister Cedric O in a launch ceremony.
"We want to make champions here."
Some politicians hope that OVHcloud - the biggest
European-based cloud services provider - could offer an
alternative to U.S. giants Amazon Web Services,
Microsoft's Azure and Google Cloud, which
dominate the market.
However, the company has so far lacked the scale and
financial clout to dent their market shares.
OVHcloud is the second-biggest listing on Euronext Paris
this year, following Antin Infrastructure Partners'
September debut, which brought it a market value of around 4.1
It joins a long list of European companies going public this
year, but a skittish market has seen some faltering starts, with
French healthcare property group Icade Santé and Swiss Chronext
delaying their debuts.
($1 = 0.8611 euros)
(Reporting by Sarah Morland and Gwenaelle Barzic
Editing by Richard Lough and Mark Potter)