Overview
- Lightning Stock Exchange, known as Lise, scheduled a tokenized share sale for ST Group on April 9 in what it presents as a potential first fully on-chain IPO in Europe.
- Lise plans to record issuance, trading and settlement on one blockchain, a setup the EU’s DLT Pilot Regime permits by letting one venue act as both marketplace and securities depository.
- On-chain processing enables near-instant atomic settlement and round-the-clock trading, which aims to cut back-office steps and reduce the time and fees that often burden small issuers.
- ST Group makes composite parts for aircraft, defense and space programs and cites about €59 million in potential program revenue over the next decade, giving investors a view of its pipeline.
- Lise targets small and mid-sized companies and is backed by BNP Paribas, CACEIS and Bpifrance, while other players like Securitize, 21X and JPMorgan are testing tokenization across markets.