FDJ: subscriptions start, with listing on 21 November
(CercleFinance.com) - The subscription period for the IPO of Française des Jeux (FDJ) begins today and, for individual investors, will end at close of business on 19 November.
The financial terms of the operation were detailed last night with the publication of the registration note. Thus, the reference price of the FDJ share is expected to range between 16.5 euros (i.e. with a 2% reduction for individual investors, 16.17 euros) and 19.5 euros.
Remember that the French State intends to reduce its stake in FDJ's capital from 72% to 20% stake in the capital of FDJ, which will therefore not raise funds at the time. Therefore, the capitalisation of the operator of the French national lottery and sports betting group should reach between 3.1 billion and 3.7 billion euros in Paris.
Meanwhile, the global placement for institutional investors will close at 12 noon on 20 November, when the share's reference price will be announced. The FDJ share will then be first listed on the Paris Stock Exchange on 21 November, before settlement-delivery the next day.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The financial terms of the operation were detailed last night with the publication of the registration note. Thus, the reference price of the FDJ share is expected to range between 16.5 euros (i.e. with a 2% reduction for individual investors, 16.17 euros) and 19.5 euros.
Remember that the French State intends to reduce its stake in FDJ's capital from 72% to 20% stake in the capital of FDJ, which will therefore not raise funds at the time. Therefore, the capitalisation of the operator of the French national lottery and sports betting group should reach between 3.1 billion and 3.7 billion euros in Paris.
Meanwhile, the global placement for institutional investors will close at 12 noon on 20 November, when the share's reference price will be announced. The FDJ share will then be first listed on the Paris Stock Exchange on 21 November, before settlement-delivery the next day.
Copyright (c) 2019 CercleFinance.com. All rights reserved.