According to sources, it has been come into existence that Spain recently jerked the sale of 30% of its state-owned lottery workers. By doing this, it has challenged the tough markets to move further and to know that what would be the country's prevalent Initial Public Offering (IPO).
There is only one person who is known to the offering: Loterias y Apuestas del Estado.
He said that they could collect around 6-9 billion Euros, $8.3-$12.4 billion, for state reserves. On November 20, there is an election and prior to this they target the completion of this collection.
It has been also disclosed by the sources, a report was prepared on Monday by research analysts covering more than 20 investment banks and this was handed over to all the investors.
There are two more weeks to go for the offering and therefore this initiative is nothing else but the beginning of a pre-marketing period. But this time, investor feedback will also be gathered.
It is expected that the listing prospectus of the company would be accepted by the end of this month. And then, this will define an analytical price range for shares, either in the end of September or beginning of October.
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