This year will mark the highest-ever number of French information technology companies going public, according to a report in Les Echos. Of the 76 stock market introductions this year, 13, or 17%, come from the information technology sector, principally software and services. The percentage is even higher if it includes the companies placed on the OTC index. While the most recent arrivals have not performed spectacularly, due to the world stock market roller coaster, the total IT index on the Paris Bourse’s 250 companies is up a whopping 47.8% from January 1, 1997. That compares to a 20% progression of the CAC 40 during the same period. If IT companies are going public, it’s because they have seen the excellent performance of their fellow companies who are already quoted, said one financial analyst in Paris. Indeed, the performance is the most concrete indicator that the somber early 90s are over. With the demand for system upgrades for the euro and the year 2000, French IT companies are predicting growth of at least 10%-15% per year for the next three years.
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