Small French investors snap up 1 bn euros in lottery share subscription
The French state has raised 1 billion euros in subscriptions from small-time investors for shares in the national lottery, which is to be privatised next week, Finance Minister Bruno Le Maire announced Sunday.
The government is selling 52 per cent of the state lottery monopoly, Francaise des Jeux (FDJ), in order to raise money for investment in innovation.
It has launched a huge marketing drive to try attract as many individual French investors as possible.
Since the sale began on November 7, "there has been 1 billion euros (USD 1.1 billion) in subscriptions from individual shareholders," Le Maire told France's BFM news channel, calling it "an immense success for the people."
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