Lise (Lightning Stock Exchange) will launch the world’s first on-chain initial public offering (IPO) on 9 April.
ST GROUP will become the inaugural company to list. The company is a French growth-stage industrial SME specialising in the manufacture of composite parts and sub-assemblies for the aerospace and defence sectors.
The launch comes five months after Lise received regulatory approval from French and European financial authorities.
The listing will mark a historic milestone for financial markets: the first on a natively tokenised stock exchange.
The aerospace and defence sector is a strategic industry for the French and European economies. The stock market listing for ST GROUP aims to accelerate its industrial development, in particular to support the ramp-up of aeronautical and defence markets.
The Allinvest Group (ALLinvest Corporate Finance and ALLinvest Securities) has acted as financial advisor on one side and bookrunner on the other to structure this unprecedented operation.
“This is not just another marketplace launch. Today, we are making history — the world’s first natively tokenised IPO, happening right here, on a French-built, fully regulated infrastructure. That alone is a statement: France and Europe can lead the world in financial innovation, not follow it,” said Mark Kepeneghian, CEO of Lise.
“But the real significance runs deeper. We are fundamentally changing how markets are built, how companies raise capital, and how investors connect to the real economy. A paradigm shift for capital markets.”
In this new model, investing during the IPO will work differently to traditional financial markets. The subscription order book runs on a first-come, first-served basis: straightforward allocation, no discretion up to the limit of available securities, with no subscription fees or custody charges.
Arnaud Mournetas, Managing Director and Co-founder of Lise, said: “The response from business leaders has exceeded our expectations. SMEs across France are looking for a smarter, more accessible route to equity financing and Lise was built to be exactly that.”
Several other companies are already in advanced discussions with Lise ahead of their own listings.
Read our interview with Mark Kepeneghian, CEO of Lise, on why Europe’s first tokenised stock exchange is a task worth taking on.
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