OVHcloud goes public

Oct 18, 2021 | Posted by AbdulRahmanOladimeji

OVHcloud has finally been listed on the stock exchange in France. It went public on the Euronext Paris stock exchange. The company’s opening market capitalization was €3.48 billion ($4bn). It also raised €400 million ($469m). OVHcloud opened at €18.50 per share, dipped slightly, but its share price is now €21.

Michel Paulin, CEO of OVHcloud, said the successful IPO of the company signifies the start of another development phase for OVHcloud. He added that the IPO gives the company more resources to speed up its growth and strengthen its position as a European champion. Paulin also noted that the resources would help OVHcloud expand internationally by reinforcing the relationships of trust it has with stakeholders.

OVH first announced its intention of going public in March, two days before a fire destroyed one of its facilities in Strasbourg, France.

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