BREAKING NEWS

French lottery operator IPO a success with retail investors - finance minister

French lottery operator IPO a success with retail investors - finance minister
FILE PHOTO: Logo of French lottery group Francaise des Jeux is pictured on grids in Bordeaux, France, November 6, 2019. REUTERS/Regis Duvignau -
Copyright
REGIS DUVIGNAU(Reuters)
Text size Aa Aa

PARIS (Reuters) – Demand for the initial public offering of French national lottery operator Francaise des Jeux (FDJ) is very strong, with retail investors having subscribed for 1 billion euros ($1.10 billion) in shares, Finance Minister Bruno Le Maire said on Sunday.

“As I speak there are … 1 billion euros in retail investors subscriptions. It is a tremendous popular success,” Le Maire told BFM television.

The government began the flotation process on Thursday, as it looks to sell down its majority stake in FDJ in France’s biggest wave of privatisations in more than a decade.

The share sale is expected to raise up to 1.7 billion euros for the state and about a third of it has been earmarked for retail investors.

(Reporting by Dominique Vidalon; Editing by Susan Fenton)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.
Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.