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Computing firm OVHcloud IPO set to go ahead at low end of price range

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PARIS, Oct 13 (Reuters) – French cloud computing companies supplier OVHcloud’s IPO is set to transfer ahead at a price of 18.5 euros per share, at the low end of the range, one of the banks in cost of the operation mentioned on Wednesday, valuing the firm at about 3.5 billion euros.

One of the bookrunners mentioned the provide is already oversubscribed though the books won’t shut till Thursday noon.

On Oct. 5, OVHcloud – the second-biggest European-based cloud companies supplier after Deutsche Telekom’s T-Systems (DTEGn.DE) in accordance to Synergy Research – had set a price range of a 18.5 to 20 euros per shares, which might lead to a market worth of 3.5 to 3.74 billion euros.

Reporting by GV De Clercq; Editing by Kirsten Donovan

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