IPO of France’s FDJ Draws Retail Investors
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The IPO of France’s Francaise des Jeux (FDJ) has proved a “popular success,” drawing subscriptions from retail investors worth 1 billion euros.
“It is a tremendous, popular success,” Finance Minister Bruno Le Maire said.
The bookrunner said that the IPO was oversubscribed in a range of 18.50 euros and 19.90 euros. The initial price guidance for the IPO was 16.50–19.90 euros.
Le Maire said that he would set a final price next week, ahead of trading that is due to begin on November 21.
If the listing goes smoothly, it could embolden the government to press on with other big asset sales, such as the sale of airports operator ADP and a stake in power group Engie. The state wants to sell all or part of its 50.6% stake in ADP worth around 8.6 billion euros but opponents have organised an online referendum to stop it.
Source: Latest News on European Gaming Media Network
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