Franchise to Host Full Onchain IPO with ST Group List
French blockchain-based stock exchange Lightning Stock Exchange (Liece) is gearing up to host what it says is a fully on-chain initial public offering (IPO), with aerospace and defense SME ST Group as its founding company.
The company called the deal its first IPO, where it would issue shares and sell them in digital tokens rather than registered through traditional market infrastructure.
It could fundamentally change “how markets are built, how companies raise capital and how investors interact with the real economy,” CEO Mark Kepenegian said.
The IPO is scheduled for April 9 and is being structured with the support of Alinvest Group, acting as financial advisor and bookrunner. The platform introduces first-come, first-served allocation for IPO orders and eliminates subscription and reservation fees.
Rather than showcasing blockchain-based market pipelines, the IPO tests whether tokenized issuance can solve real capital market problems for small companies. Tokenized securities have long struggled with liquidity, investor access and regulatory controversies, and it's unclear whether a new space can attract meaningful trading activity or operate smoothly.
Related: NYSE taps for 24/7 tokenized security protection platform
The lease is subject to approval from French regulators.
Lease holds a number of regulatory approvals, including an investment firm license from the French Prudential Regulation and Resolution Authority and a DLT pilot regime license from the European Securities and Markets Authority, to conduct trading and settlement on its blockchain infrastructure, a company spokesperson told Cointelegraph.
As Cointelegraph previously reported, the European Commission has proposed extending the DLT pilot regime as part of broader efforts to support tokenized financial markets in Europe.
“Lays operates both a Multilateral Trading Facility (MTF) and a Central Securities Depository (CSD) in one unified platform, built on Hyperledger Besu (a private, permissioned blockchain). “DLT is the gold standard for a securities ledger,” they said.
Related: Franklin Templeton, Ondo to launch ETFs with 24/7 trading via crypto wallets
Tokenized shares cost around $1
Investor interest in blockchain-based tokenized stocks is on the rise, with a total market cap approaching $1 billion. According to data obtained by RWA.xyz, Tokenized equities reached $941 million in total value, an increase of 2.4% over the past 30 days.
In some areas, the movement has grown significantly. Monthly turnover rose 85% to $2.94 billion, while the number of holders rose 17% to 201,000.
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