Special Situations
FDJ: Opportunity This Week to Subscribe to the French Lottery Privatization

This week, the French government will be raising cash to help pay down its national debt by selling its current stake in France’s lottery, Française des Jeux (FDJ), via a privatization. As Europe’s second largest lottery and the fourth largest worldwide will look to list on the market, the French government will sell approximately 52% of its stake in FDJ. While US and institutional investors won’t be eligible for the 2% discount upon purchase as French retailers would, an initial look ahead of the prospectus shows the company as a good long-term opportunity. Full Analysis out shortly. 

  • Early Signs of a Positive Upcoming Privatization…This Week / Opportunity to Subscribe to France’s Lottery Listing
  • Française des Jeux (FDJ): Second Largest Lottery in Europe / Quasi-Monopoly Status / Recommend Investors to Subscribe
  • Attractive Dividends / Leverage Not a Concern for FDJ vs. Peers / French Government to Retain Approx. 20% Stake
  • Exclusive Rights For 25 Years Provides Earnings Visibility / Positive Outlook for FDJ – UEFA Euro 2020
  • Tentative Start Date to Subscribe: Nov 7, 2019 / IPO Date: Nov 21, 2019 / Prospectus and Full Analysis Out Shortly
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