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CDC privatization: more than 600m euros in shares demanded by individuals

"It is above all our expectations." The French have already demanded "more than 600m euros" in actions for the French Games, Economy and Finance Minister Bruno Le Maire said on Wednesday.

Almost a week after the start of the company's privatization operation, "it is above all our expectations. This is proof that the popular stakeholder bet is a winning bet, "the minister added during a hearing before the senators.

This amount corresponds to a tranche intended to be allocated to individuals, he says, and the rest must come from institutional investors.

Interested parties can still continue to subscribe to shares of French games. If the amount reserved for them is exceeded, subscriptions under 5,000 euros will really be a priority. Those who have asked for more will receive only part of their request in order to satisfy the maximum of investors.

Purpose: to return the French to the stock market

In total, with a price range of 16.50 euros to 19.90 euros per share, the government hopes to generate between 1.6 and 1.9 billion euros from the transaction, according to AFP calculations. .

Individuals have until November 19 to subscribe, while institutional investors have one more day, until the day before the company's IPO scheduled for November 21.

The government is counting on the privatization of the CDC to bring the French to the stock market, which they are quite wary of while the level of savings is very high in France. Individuals have a 2% discount on the share price, with 20% to 40% of the stock being reserved. In total, through this operation, the state will sell 52% of the company's capital to reduce its stake to 20%.

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