PARIS: The French government is planning to sell a stake of around 50 percent in national lottery company Francaise des Jeux (FDJ) via a stock market listing as it kicks off a wave of privatizations, the Journal du Dimanche reported on Sunday.
The government has announced plans to sell 10 billion euros ($12.28 billion) worth of stakes in state-owned companies to raise money for a new fund to finance innovation, an election pledge of President Emmanuel Macron.
The lottery company has long been flagged as one of the first candidates for a privatization.
Investment bank BNP Paribas as well as law firm Weil, Gotshal & Manges LLP were mandated by France’s state holding company APE to pave the way for a sale of FDJ, which is 72 percent owned by the government.
The state had finally opted to open the sale up to the public through a stock market flotation, in an overhaul of the FDJ that should be finalized no later than early 2019, the Journal du Dimanche (JDD) reported, citing sources.
The French state would retain a stake of close to 25 percent in the company, Europe’s second-biggest lottery after Italy’s Lottomatica, while a private investor hailing from the gaming or media sector could also take a slice of the capital, the JDD said.
The economy ministry declined to comment, while the state holding company APE could not immediately be reached for comment.
France planning to sell 50 percent of lottery group through IPO: French press
France planning to sell 50 percent of lottery group through IPO: French press
Closing Bell: Saudi main market edges up to close at 11,216.9
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, closing at 11,216.93, up 28.20 points, or 0.25 percent.
The MSCI Tadawul 30 Index also advanced, finishing at 1,512.99, a gain of 0.29 percent, while the parallel market index, Nomu, inched up 0.09 percent to 23,887.01.
Trading activity was robust, with a total of 150.4 million shares changing hands and an aggregate value of SR3.3 billion ($880.2 million).
Among the top gainers, Zahrat Al Waha for Trading Co. surged 7.05 percent to SR2.58. The Mediterranean and Gulf Cooperative Insurance & Reinsurance Co. rose 5.26 percent to SR15.82, and Jahez International Co. for Information System Technology increased 4.68 percent to SR14.09.
Saudi Real Estate Co. added 4.47 percent to SR14.48, while Arabian Shield Cooperative Insurance Co. gained 4.3 percent to SR12.12.
On the other hand, Abdullah Saad Mohammed Abo Moati for Bookstores Co. fell 3.55 percent to SR44, and The Company for Cooperative Insurance dropped 2.92 percent to SR133.
Canadian Medical Center Co. eased 2.69 percent to SR6.15, Ataa Educational Co. declined 2.61 percent to SR52.15, and ADES Holding Co. finished 2.5 percent lower at SR18.31.
Meanwhile, Saudi Aramco Base Oil Co. announced that its board of directors has recommended distributing cash dividends for the second half of 2025.
The proposed payout is SR3.5 per share, bringing total dividends for the year to SR4.5 per share, representing around 70 percent of free cash flow in line with the company’s performance-linked dividend policy.
The total amount to be distributed for the second half stands at SR589.9 million, covering 168.2 million eligible shares.
Eligibility will be determined at the close of trading on the day of the company’s general assembly, with the distribution date to be announced later. Luberef shares last traded at SR105.5, up 3.53 percent.
Separately, the Capital Market Authority revealed that it has licensed Lesha Capital to conduct investment management and fund operations in the securities business, following the company’s completion of all required business registrations.
