OVH Groupe stock tumbles 18% following block trade pricing

OVH Groupe SA shares fell 18% following the pricing of a secondary accelerated bookbuild offering at EUR 13.30 per share.

The block trade involved 4.65 million shares, representing approximately 3.0% of the total shares outstanding, according to the bookrunner.

The transaction raised approximately EUR 61.8 million.

The pricing of the secondary offering at EUR 13.30 per share triggered the decline in the French cloud computing company’s stock during the trading session.