French Government Praises FDJ IPO, But Some Analysts Warn Of Over-Pricing

Française des Jeux’s (FDJ) listing on the Euronext Paris Exchange has been hailed as a great success by the operator and France’s finance minister, but a handful of analysts remain sceptical about its attractiveness to institutional investors.

Shares in France’s national lottery operator began trading on Paris’ stock exchange on Thursday at a value of €19.90.

Minister of economy and finance Bruno Le Maire had said he would set the share price range between €16.50 and €19.90 per share.

On November 20, Le Maire said he chose the highest due to the “great success” of its IPO subscription, which saw “more than 500,000 orders placed”.

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