The new financial market, which will operate on a crypto network, is introducing ST Group, a company specializing in composite parts for airplanes. This is an announcement like few others. The brand new Parisian stock market, Lise (for Lightning Stock Exchange), will welcome its first company. On April 9th, ST Group, a Toulouse-based SME in the defense sector, will offer investors the opportunity to subscribe to its IPO.
Having received approval from the Autorité de contrôle prudentiel et de résolution (ACPR) and the AMF regulatory authority at the end of 2025, Lise will mark the start of trading for the first time with this company that is a member of the defense industrial and technical base (BITD) specializing in the production of parts and composites for the aerospace and defense sectors.
ST Group, with an estimated activity potential of 59 million euros over ten years, aims to raise equity to increase its production and meet the growing demand from its customers.
If the amount of the offer aimed by ST Group is not disclosed, Lise aims to carry out IPOs ranging from 2 million to 12 million euros. This is ten times less than the average IPO of the leader Euronext.
“These amounts are precisely calibrated to the equity needs that French SMEs lack today,” justifies Lise’s founder, Mark Kepeneghian.
A Stock Exchange Open at Night and on Weekends
While tokenized IPOs are not a global novelty, the company claims a peculiarity: “This operation is the first IPO – natively – tokenized ever conducted in the world,” rejoices Lise. A “natively tokenized” issuance means that the shares are born legally and technically in the form of tokens on the blockchain: the official ownership register is “on-chain”. In contrast, a “representation” tokenized creates a token that only reflects existing shares held elsewhere (bank, depository), with the true register remaining in the traditional infrastructure. The network used by this nascent stock exchange is Hyperledger, a mainstream branch of the renowned public Ethereum network.
[CONTEXT: ST Group is a Toulouse-based SME in the defense sector. Lise is the new Parisian stock market that operates on a crypto network.] [FACT CHECK: ST Group aims to raise equity to increase production and meet customer demand. Lise plans IPOs ranging from 2 million to 12 million euros, much lower than Euronext’s average IPO amount.]
