OVHcloud seeking €400m in Euronext IPO before year’s end

Data Centre

Cloud storage provider OVHcloud is looking to raise €400 million (£343m) in a Paris IPO that would bring its valuation close to €4 billion.

The French firm will be listed on the Euronext stock exchange by the end of 2021.

OVHcloud needs the IPO to finance its competition with major cloud providers like Amazon Web Services and Microsoft Azure.

This is especially the case in the European cloud market, which is expected to grow even faster than the already...