FDJ’s shares increase in market debut

The shares in Française des Jeux (FDJ) increased on the day of its debut in the stock market and hit the €23.95 shortly after launching.

France.- The privatisation of French lottery operator Française des Jeux (FDJ) is revolutionising the market in the country, as shares in the company surged on their Thursday stock market debut.

Shares on FDJ opened up at €23 compared to the offer price for retail investors of €19.50 and institutional investors of €19.90, Reuters informed. The stock hit a high of €23.95 shortly after the trading was launched.

The privatisation of FDJ will bring €2 billion in proceeds after its initial public offering. At the end of the operation, the government will hold 20% of the capital, while individuals will hold more than 21%, Le Monde reported. Veterans will see their position strengthened, while employees of the group will hold between 5% and 7% of shares. In total, “the State, the historic shareholders and the French will own more than 60% of the capital” of the FDJ.

The initial price range was between €16.50 and €19.90, with a discount of 2% for the general public. “We decided to increase the share reserved for the private investors from 33% to 40%,” said the minister. He added that those who subscribed less than €2000 euros “will be fully served.”