(Bloomberg) -- Software company Planisware jumped as much as 33% on its trading debut in Paris after raising 278 million euros ($297 million) as France — Europe’s biggest stock market — finally joins the bounce in the region’s share listings after a two-year drought.

Shares of the company opened at €21.01, well above the initial public offering price of €16 per share. The listing valued Planisware at €1.1 billion ($1.2 billion), also marking the return of sizeable tech IPOs in Europe.

The listing is the latest sign of an IPO revival in the region, as the Paris exchange has struggled along with other European bourses to attract tech and media companies. The most recent significant listing in the sector was Technoprobe S.p.A., which raised more than $800 million in early 2022.

For Edmund Shing, global chief investment officer at BNP Paribas Wealth Management, it’s hard to extrapolate the positive debut of Planisware as a turnaround for the region. “I think it is company-specific and software companies are generally in demand in Europe, as there are so few.” 

Still, with retail investors typically focused on holding shares in the largest tech companies, IPOs by smaller European names in the sector may struggle to attract strong interest, Shing said.

Planisware’s founders will retain a majority stake. Cornerstone investors are providing a total of €100 million, and include CDC Tech Premium, a fund of the French public Caisse des Dépôts dedicated to European tech IPOs.

Shares in Planisware were trading 28% higher at €20.53 as of 9:43 a.m. in Paris.

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