The French investment house's market capitalisation was around €7.5 billion when it listed in Paris yesterday.

European asset manager Amundi raised €1.501 billion ($1.608 billion) in its initial public offering on the Euronext stock exchange in Paris.

The company, which was jointly created in 2010 by Crédit Agricole and Société Générale, had assets under management of €952 billion as of the end of September, with operations in 30 countries.

The offering, which valued Amundi at €7.5 billion, set the price per share at €45, with Societe Generale selling its 20 per cent stake for €1.5 billion. Crédit Agricole, which owns the remaining 80 per cent, is selling a maximum of 5,003,750 shares, worth a total of €225 million if an over-allotment option is fully exercised, raising the total offering to €1.726 billion.

“The success of Amundi’s initial public offering proves the success of its business strategy since it has been created in 2010. This profitable growth strategy will be pursued to the benefit of its clients, its employees and its shareholders,” said Yves Perrier, chief executive of Amundi. 

Credit Agricole is to sell a further 2 per cent of Amundi's capital to a subsidiary of Agricultural Bank of China to expand their cooperation.

Amundi has two business lines, providing savings solutions to retail customers and investment solutions to institutional clients.