# Shares in French tech champion OVHcloud gain 6% in Paris debut
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-10-15
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: OVHcloud Shares Rise 6% on Paris Debut
Meta Description: French cloud computing company OVHcloud saw its shares rise 6% on first day of trading in Paris, marking one of the city's biggest listings this year.
URL: https://financedigest.com/shares-in-french-tech-champion-ovhcloud-gain-6-in-paris-debuthtml

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PARIS (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](https://www.financedigest.com/jaguar-land-rover-opens-three-european-self-driving-tech-hubs.html "Jaguar Land Rover opens three European self-driving tech hubs") 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](https://www.financedigest.com/decline-in-german-services-sector-eases-raising-hopes-for-milder-recession-pmi.html "Decline in German services sector eases, raising hopes for milder recession -PMI") provider – could offer an alternative to U.S. giants Amazon Web Services, [Microsoft’s Azure and Google](https://www.financedigest.com/microsoft-unveils-ai-office-copilot-in-fast-moving-race-with-google.html "Microsoft unveils AI office copilot in fast-moving race with Google") Cloud, which dominate the market.

However, the company has so far lacked the scale and financial clout to dent their [market shares](https://www.financedigest.com/global-splined-sleeves-market-size-share-trend-growth-forecast-to-2031.html "Global Splined Sleeves Market Size, Share, Trend & Growth Forecast To 2031").

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 [billion euros](https://www.financedigest.com/mercedes-benz-to-buy-back-up-to-4-billion-euros-in-shares-by-2025.html "Mercedes-Benz to buy back up to 4 billion euros in shares by 2025").

It [joins a long list of European](https://www.financedigest.com/more-banks-join-european-instant-payments-pilot-from-end-2023.html "More banks join European instant payments pilot from end 2023") 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 BarzicEditing by Richard Lough and Mark Potter)


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