French Lottery IPO Scheduled for November, Le Maire Says
- Retail investors to receive one free share for each 10 bought
- Government windfall to be used to reduce French debt
Photographer: Antoine Antoniol/Bloomberg
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The initial share sale of Francaise des Jeux, France’s state lottery, will take place next month, with investors able to subscribe to the offering from Nov. 7-20, French Finance Minister Bruno Le Maire said in an interview with Journal du Dimanche.
Retail investors will get one free share for every 10 shares purchased as well as a 2% discount on the offer price, the report said. The French state’s stake will drop to 20%, from 72% now.