(CercleFinance.com) – The Française des Jeux (FDJ) stock lost nearly 5% on Wednesday morning on the Paris Stock Exchange after Crédit Agricole Assurances announced that it had sold a share of around 2.2% of the capital.
The insurance arm of the green bank indicates that it has placed, via its 100% subsidiary Predica, 4,073,436 ordinary shares with qualified investors through the accelerated construction of an order book.
The sale price was set at 36.6 euros per share, a discount of 6.8% compared to FDJ's closing price of 39.3 euros on Tuesday.
In a press release, Crédit Agricole Assurances – which recalls being a shareholder of the gambling specialist since its IPO in November 2019 – explains that the placement is part of its strategy of 'rationalization' of its investment portfolio.
At yesterday's closing price, FDJ shares posted a gain of around 97% since its debut on the stock market.
Following the placement, Crédit Agricole Assurances will still hold 3.3% of the capital and 4.5% of the voting rights and will continue to sit on the company's board of directors.
