(Adds detail, CEO comment, advisors)
PARIS, June 26 (Reuters) - French electronic payment and transaction services provider Worldline set the price for its initial public offering at the bottom of the previously indicated range, giving it a market value of around 2.16 billion euros ($2.94 billion).
The company said it raised about 575 million euros through the IPO, based on the price of 16.4 euros, with 255 million of new shares and 320 million in shares sold by parent company Atos .
The amount of shares sold by French IT service firm Atos could rise to 406 million euros if an over-allotment option is fully used, in which case it would retain 69.42 percent of Worldline.
"Our new shareholders have given a clear signal of approval for our strategy and for the growth potential of the European and global payments sector," Worldline Chief Executive Gilles Grapinet said in a statement.
"The IPO will help us to accelerate our development and to play a key role in the consolidation of the European payments market."
Worldline makes software and offers services to companies that want to do on-line payments. It has said it would use part of the proceeds from the listing to repay money borrowed from the Atos.
The shares are due to start trading at 0700 GMT on Friday. The price range had been set at between 16.4 and 20 euros.
Deutsche Bank and Goldman Sachs International are acting as global coordinators and joint bookrunners for the IPO.
Bank of America Merrill Lynch, Barclays, BNP Paribas and Societe Generale Corporate & Investment Banking are acting as joint bookrunners. Rothschild & Cie is acting as financial advisor.
($1 = 0.7335 Euros) (Reporting by James Regan; Editing by Michel Rose and David Evans)