29th of September 2011 Author: Ava Jackuard
Market conditions too weak
Despite the announcements that the Spanish government has given its approval to its lottery's IPO, this week the government had a change of heart and decided to suspend the public listing due to weak market conditions.
Hence, the sale of 30 percent of Sociedad Estatal Loterias & Apuestas del Estado SA, whose book value is Euro 20.8 billion, has been postponed, and according to Spain's Finance Ministry, this decision comes because market conditions don't 'guarantee revenues that reflect the value' of the operator.
The Spanish Finance Minister Elena Salgado explained that a weak market meant that the return would be less than market valuation, which was deemed unacceptable so the public listing had to go.
Bingo Society News General Bingo News
24th of September 2011
20th of September 2011
14th of November 2018
13th of November 2018
12th of November 2018
25th of October 2018
1st of November 2018
16th of September 2018
20th of September 2018
21st of September 2018
Join now for full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
Disclaimer Contact Us Privacy Terms and Conditions Gambling Help About Us Site Map Trusted Portals
LatestBingoBonuses.com © 2006-2018
Enter your email adress:
T&C's Apply. 18+
Do not show this again
You have been successfully subscribed to receive LBB newsletter!