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White & Case Advises Bank Syndicate on IPO of OVHcloud on Euronext Paris

Global law firm White & Case LLP has advised a syndicate of banks led by BNP Paribas, Citigroup and J.P. Morgan on the initial public offering (IPO) of OVHcloud on Euronext Paris and its simultaneous refinancing. 

The offer amounts to approximately €400 million, including a share capital increase amounting to approximately €350 million, and €50 million of shares sold by the Klaba family (controlling shareholder), KKR and Towerbrook. This amount may be increased by up to €460 million if the over-allotment option is exercised in full. The prospectus received approval from the French financial markets authority (Autorité des marchés financiers) on 4 October 2021 and OVHcloud began trading on the regulated market of Euronext Paris on 15 October 2021. 

OVHcloud is Europe’s leading provider of cloud computing services, serving 1.6 million customers in more than 140 countries around the world, with a comprehensive suite of solutions spanning private, public and web cloud products.

In 2021, the Paris team has advised on the four largest technology initial public offerings on Euronext Paris (Believe, Aramis, Dee Tech and OVHcloud), positioning itself as the firm of reference for IPOs in the technology industry in France.

The White & Case team in Paris which advised on the transaction was led by partners Thomas Le Vert and Séverin Robillard and included partners Max Turner, Alexandre Ippolito, Raphaël Richard, Roman Picherack and Clara Hainsdorf, counsel Jean Paszkudzki and associates Tatiana Uskova, Boris Kreiss, Bénédicte Cheyrou-Lagrèze, Paul-Grégoire Longrois, Sarah Kouchad, Camille Lehuby, Yasmine Sefraoui and Matthieu Tugler.

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