Shares in mobile phone firm Orange have been priced at euro 10.0 ahead of their listing today - a price near the bottom of the offer range.
The offer price values Europe's second-largest mobile operator at euro 48 billion.
The launch price was near the low end of an indicative euro 9.5-11.0 price range. The range had already been lowered from the original euro 11.5-13.5 to combat worsening investor appetite for mobile telecoms stock in recent days.
Shares in Orange - which had been seen worth as much as euro 100-150 billion early last year before a slump in the telecoms sector - are due to start trading today in Paris and London.
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Reuters