Industry News

IPO of France’s FDJ Draws Retail Investors

Published

6 years ago

November 19, 2019

Niji Narayan

Photo Source: oann.com

Reading Time: < 1 minute

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.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.