Blue Solutions saw its shares jump 30% from issue price in the first day of its initial public offering. The IPO of the IT software distributor was oversubscribed by more than 15 times, proving that the public listing of Blue Solutions was a success.
IG France Deputy Managing Director Arnaud Poutier wrote, "The total success (of the IPO) ...shows the climate has become very favorable on the stock market. (The stock carried) major risks, (but that) the appetite for risk is there."
The IT software distributor priced its shares at the top end of its USD12 to USD14.50 price range. Blue Solutions shares traded at EUR18.39 per share by Wednesday, and even rose as high as EUR18.64 per share. The share price premium had put the company's market value at EUR530 million or USD730 million.
French billionaire Vincent Bollore, whose holding company owned Blue Solutions said at a Paris ceremony, "Blue Solutions is really a very high-tech business. And like all very high-tech businesses, you have to know it offers extraordinary potential but also risks that are just as extraordinarily significant. (However) we wish to keep the main part of this business in Bollore group's hands."
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