HSBC has completed its second equity deal in France this week with the €980m ($1.3bn) flotation of Société des Autoroutes du Nord et de l'Est de la France, the toll road operator, alongside BNP Paribas and UBS.

The French government sold 23.9 million Sanef shares at €41, the top of the bookbuilding range. Sanef shares opend 2.5% higher at €41.10 at noon in Paris.