France’s OVHcloud prepares for $4.7 billion IPO

French cloud computing services provider OVHcloud plans to launch a possible initial public offering as soon as Monday that could value it at more than $4.7 billion, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

The cloud-service provider won’t make any final decision on whether to proceed with the offering and targeted price and valuation until it finishes determining investor interest, the newspaper said.

The company is expected to list its shares in Paris if the offering proceeds, the report added.

In June, the family-owned company re-committed to an IPO on Euronext’s Paris stock exchange but provided no timetable and no fundraising target.

OVHcloud did not immediately respond to Reuters request for comment. Reuters