French Lottery Operator Surges After $2.1 Billion IPO
- Minister hails ‘spectacular success’ as shares leap 20%
- Company has its origins in lottery set up for WW1 soldiers
Photographer: Joel Saget/AFP via Getty Images
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Francaise des Jeux SAEM shares soared as much as 20% after the French lottery operator raised about 1.89 billion euros ($2.1 billion) in the country’s largest initial public offering since the 2005 sale of power producer Electricite de France SA.