The French OVH Groupe, a leading European cloud provider, has announced the launch of its Initial Public Offering (IPO). The amount of the net proceeds of the issuance of the New Shares is estimated at approximately €315 million. The shares shall be admitted to trading on the regulated market of Euronext Paris. The French financial markets authority has granted approval on the prospectus. OVH Groupe intends to use the net proceeds to finance its growth strategy, including in particular the financing of its geographical expansion and the construction of data centers, the development of new products and acquisitions.

The IPO will be carried out as a public offering by way of an open price offer to retail investors in France and also an international private placement to institutional investors inside and outside of France, including in the USA to qualified institutional buyers and outside the USA. Should there be sufficient demand in the French Public Offering, the number of shares allocated to subscriptions in the French Public Offering will be equal to at least 10% of the total number of shares offered in the Offering excluding the over-allotment option. The final allocation of shares between the French Public Offering and the International Offering will be determined at the time the results of the French Public Offering are known.

The initial public offering of OVHcloud will consist of the issuance of new shares by the company by way of a capital increase for an amount of approximately €350 million. In addition, existing shareholders (e.g. KKR and TowerBrook Capital Partners) plan to sell shares.