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AMAZON.COM, INC.

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France's OVHcloud about to announce IPO plan - source

06/13/2021 | 05:44am EDT

PARIS, June 13 (Reuters) - French cloud computing services provider OVHcloud is about to set out its plan to list the company's shares on Euronext's Paris stock exchange, a source close to the matter said, confirming an earlier report by weekly JDD.

The announcement will include a timetable for the initial public offering (IPO), which would be one of France's biggest this year and could value the company at several billion euros, according to several analysts, the source said.

JDD reported that OVHcloud would make the announcement on Monday.

Founded by Octave Klaba in 1999, OVHcloud competes mostly with U.S. firms such as Amazon Web Services, Microsoft's Azure and Google Cloud, which dominate the market.

Based in Roubaix near Belgium, OVHcloud employs 2,450 people and has 32 data centres worldwide. It generated 600 million euros ($726 million) in sales in 2019.

In March, a fire destroyed one of OVHcloud's four data centres in Strasbourg, in eastern France, disrupting millions of websites, knocking out government agencies' portals, banks, shops, news websites and a chunk of the .FR web space, according to internet monitors.

The incident occurred shortly after OVHcloud announced plans for a potential initial public offering of its shares. ($1 = 0.8260 euros) (Reporting by Mathieu Rosemain;Editing by Elaine Hardcastle)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.10% 2697.09 Delayed Quote.53.74%
AMAZON.COM, INC. 0.12% 3331.48 Delayed Quote.2.29%
EURONEXT N.V. -1.67% 91.3 Real-time Quote.12.82%
MICROSOFT CORPORATION -0.03% 284.82 Delayed Quote.28.06%
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Financials (USD)
Sales 2021 476 B - -
Net income 2021 27 203 M - -
Net cash 2021 60 587 M - -
P/E ratio 2021 63,2x
Yield 2021 -
Capitalization 1 687 B 1 687 B -
EV / Sales 2021 3,42x
EV / Sales 2022 2,82x
Nbr of Employees 1 298 000
Free-Float 82,1%
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Number of Analysts 52
Last Close Price 3 331,48 $
Average target price 4 161,03 $
Spread / Average Target 24,9%
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Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
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