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21 Nov 2019 By Christopher Thompson

Shares in La Française des Jeux popped 18% as the state-controlled group started trading. Winnings of $2 bln endorse President Emmanuel Macron’s privatisation push. But continuing protests and a national strike will hamper plans to sell more of the $20 bln Paris airport operator.

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Shares of La Française des Jeux (FDJ) jumped as much as 18% on their stock market debut on Nov. 21 in the country's most high profile privatisation of the year.

Shares in the state-owned lottery operator were trading at 23.10 euros at 0831 GMT, compared with an offer price of 19.90 euros.

The French government will raise 1.8 billion euros from the offering. Some 500,000 retail buyers also placed orders for discounted shares in the listing. Their shares were priced at 19.50 euros each.

Under a broader privatisation plan President Emmanuel Macron's government aims to sell government shareholdings in certain companies to raise money to fund innovation projects and boost the overall economy.

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