November 20, 2019 / 4:14 PM / 21 days ago

France to pocket 2 bln euros from lottery IPO - Le Maire

PARIS, Nov 20 (Reuters) - The privatisation of French national lottery operator Francaise des Jeux (FDJ) will generate 2 billion euros in proceeds after an initial public offering that was heavily over-subscribed, Finance Minister Bruno Le Maire said on Wednesday.

Le Maire confirmed the IPO was priced at 19.90 euros ($22.02) per share for institutional investors, the upper end of the range the shares were offered at.

Investors including retail buyers placed total orders worth 11 billion euros, in what was one of Europe’s biggest IPOs of the year.

Le Maire called the IPO as a “considerable success”. ($1 = 0.9038 euros) (Reporting by Richard Lough; Editing by Leigh Thomas)

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