Cloud-Storage Provider OVH, Holders Raise $464 Million in IPO

OVH Groupe and its backers raised 400 million euros ($464 million) in an initial public offering in Paris that will help the cloud-storage provider to finance its competition with Amazon.com Inc. and accelerate its international expansion.

The shares were priced at 18.50 euros apiece, the bottom of the range at which they were marketed, the company said in an emailed statement late Thursday. The deal values OVHcloud, as the company is known, at about 3.5 billion euros. The stock begins trading Friday.