En Marche hails FDJ’s IPO success

France’s Economic & Finance Minister Bruno Le Maire has hailed the public listing of Française des Jeux (FDJ) as a success for the government’s ‘Pacte Loi’ enterprise mandate – as FDJ secures a share subscription to date of over €1 billion on the Paris Euronext Exchange.

FDJ’s stock went live on Friday 8 November, with the French government adding listing terms to ensure that a third of company shares could only be acquired by public investors.

A week on from its oversubscribed Paris debut, FDJ bookrunners detail that the lottery and sports betting operator will raise its funding to €1.7 billion by the end of month trading.

In addition, bookrunners detail that FDJ is tracking at the ‘higher-end’ of its IPO guidance range of €16.50-19.90, placing Europe’s second largest lottery operator’s corporate valuation at €3.8-4 billion.

Speaking to French media this weekend, Bruno Le Maire hailed FDJ’s IPO as ‘an immense public benefit’, backing En Marche’s plans for further privatisations of French state-controlled enterprises.

In his address, Le Marie reminded the French public to take advantage of FDJ’s IPO, which will be restricted to public investors until Tuesday 19 November, with the government maintaining a 2% discount on retail share options.

Retaining 20% of corporate shareholdings, the French state remains the biggest shareholder in FDJ, which will continue to generate revenues for French charity and heritage foundations.

Check Also

Netherlands Remote Gambling Act submitted for EC review

Progressing on its regulated market schedule, the Dutch government has forwarded its Remote Gambling Act …

Buzz Bingo to close 26 UK venues placing 570 jobs at risk 

Buzz Bingo has revealed plans to close 26 of its UK venues in a move …

Dafabet grows cricket portfolio with Durham and Sussex deals

Dafabet has grown its portfolio of English cricket teams after securing two new sponsorship agreements …