Update: Spanish Government Suspends IPO

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

Login to post a comment:


Click Here to register a new account

What's going on right now!

4mins ago someone from us flag United States read article First Big Winner at Zingo Bingo

Bingo Community

Share this page on:
Follow LBB on:
Follow LBB

Join now for full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.

In the last 24h


  • New Members
  • Members Online
  • Guests

eighteen plus only

Follow LBB on Facebook Follow LBB on Twitter Follow LBB on Pinterest Follow LBB on Google plus


Subscribe to our newsletter and get access to tournament codes, the biggest and best exclusive offers, new brand alerts, rogue reports and more!

Enter your email adress:

T&C's Apply. 18+

You have been successfully subscribed to receive LBB newsletter!