Paris (AFP)
"More than a billion euros" of shares were subscribed by individuals in the context of the privatization operation of La Française des Jeux, which goes public on Thursday, announced the Minister of Economy and Finance Bruno Le Maire Sunday.
"It's a huge popular success (...) It's considerable," said Le Maire on BFM-Le Parisien's BFM Politique program. "The French are at the rendezvous, the subscribers are at the rendezvous," he said.
The Minister of the Economy assured that "the small subscribers (...) will be served in priority" because it is they "who made the most important effort" and "who believe in this operation".
Bruno Le Maire said he could "give no indication of the price" of the shares that will be retained. "I'll fix it next week," he said.
The IPO will take place next Thursday, November 21st. The offer was launched with an indicative price range of between € 16.50 and € 19.90 per share.
"This money will be used to finance either large companies like La Française des Jeux, or SMEs and VSEs that need money from the French," said the minister. "We are starting a virtuous circle on French savings".
Asked about future operations, Mr. Mayor recalled that the framework was set by the Pact Act, and concerns three companies, the FDJ, Aéroports de Paris (ADP) and Engie.
Regarding ADP, the minister wants to wait for the end of the current referendum draft procedure.
Regarding Engie, he said that "it's part of the possibilities", adding that "it is rather in a few months than before the end of the year". "The possibility is open and we will use it at the right time," he said.
© 2019 AFP