LightOn: IPO 1.5 times oversubscribed

(CercleFinance.com) - LightOn, a French start-up specializing in generative AI for businesses, announced last night the "resounding success" of its planned IPO, which was covered 1.
5 times by the order book.

This fundraising, the first IPO in generative AI in Europe, will take the form of a capital increase of 11.9 million euros after exercise of the extension clause.

The amount of the operation could be increased to 13.5 million euros if the over-allotment option is exercised in full.

By way of comparison, overall demand from investors amounted to 15.2 million euros, i.e. an oversubscription rate of 1.5 times.

In detail, the company plans to place 1.15 million new ordinary shares on the market, based on an IPO price of 10.35 euros per share.

The proceeds from the operation should enable the company to accelerate its sales momentum, strengthen its teams, step up investment in innovation and enhance its 'Paradigm' platform.

The shares are due to start trading on Euronext Growth Paris on November 26, with a market capitalization expected to reach 62 million euros, excluding the over-allotment option.

Copyright (c) 2024 CercleFinance.com. All rights reserved.