The first day of share trading in Gas de France (GdF), which followed its recent IPO, saw its share price soar by close to 25% on the day.

Almost 60% of the shares had been reserved for individuals and GdF employees, with some three million French domestic investors delighted that GdF shares closed 23% higher at €28.50 on their first day of trading, giving GdF a market value of close to €28 billion.

The success of the GdF divestment looks all but certain to pave the way for the sale of a stake in Electricité de France (EdF), despite massive union opposition.