Paris based AI start-up LightOn, specializing in generative AI, went public today with its IPO on the Euronext Growth market with a listing later this month expected. The decision will be helpful to the company as it is planning to be the first GenAI startup to be IPOed in Europe.
LightOn Set to Make History with Europe's First GenAI IPO on Paris Euronext
LightOn a European AI startup, offering large language model software to both businesses and the French government, is in a place to spearhead the front for other AI startups. Its IPO will offer investors the chance to buy stock in one of the most successful generative AI firms in the area.
This event is important because LightOn becomes the only start-up from the global list of AI start-ups to establish its headquarters in Europe. Most of its European counterparts including France’s Mistral and Germany’s DeepL have remained private, preferring other forms of funding to propel their business.
France is arguably already marketing itself as the center of AI in the EU and part of its plan to eventually catch up to the United States and the United Kingdom. By supporting such startups as LightOn, the country plans to become a major player in the still emerging industry of artificial intelligence.
LightOn co-CEOs Igor Carron, and Laurent Daudet said in a statement that the IPO is a unique opportunity for the investors got a direct bet on the future of a French technology flagship. The company has proved capable of promising AI solutions implementation in its domestic and international markets in the future.
France Focuses on Tech Growth with AI Hub and Ambitious Unicorn Goal
In February of this year, Alphabet’s Google launched a new AI centre in France as it moves to increase the nation’s status as a player in the international technology sector. This decision coincides with France’s strategies to become an entrepreneur of artificial intelligence and technological avant-garde.
Emmanuel Macron, the Head of State, has embarked on a mission to increase the number of unicorns in the country from 27 through targeting those with a private valuation for 2030 at 100. This target shows how determined he is to foster France as place for tech companies and as a competitive place in Europe and the global market.
The European Union is expanding and sees more IT companies opting for an IPO, notes Stéphane Boujnah, the chief executive of the pan-continental stock exchange, Euronext. These companies are interested in the market opportunities that high demand for innovation will bring in the AI and digital market.
The matter is that the future tech is concentrated in the AI and technology sphere, and France is trying to become a center of this sphere. The recent start of Google’s AI centre clearly shows the country’s desire to be a significant player in the fast emerging global technology arena.
As firms from across the EU get ready for a public offering, France’s trend to grow the number of high-growth unicorn startups and support the technology sector will contribute significantly to the world economy in the future. The mobilisation of both public and private resources is now creating the conditions for francTech to develop at full speed.
LightOn IPO: Key Numbers and Milestones Ahead
LightOn through its IPO will be putting shares at € 0.10.35 per share, with the company being estimated at around € 50 million. Such a pricing is logical given the company’s goals as it becomes the first generative AI startup to go public in Europe.
Besides the IPO LightOn will strengthen the capital with the aim to increase about 10.4 million euros ($11.2 million). The goal of this maneuver is to increase the financial capacity of the company in anticipation of its advancement in the field of Artificial Intelligence.
The estimated vision for LightOn financial growth to 2027 is 40 million euros of revenue with a core profit (EBITDA) of 40%. This aims at high growth and profitability in the subsequent years as ODM expands its AI solutions for business and government.
The subscription window for IPO is open from November 8 – 20, which means investors can invest during this period. After the subscription phase, the settlement delivery is expected to occur on 25 th November.
They anticipate the first trade on Euronext Growth at the close of the market on the 26th of November, propelling LightOn to start its public journey. The IPO marks a major milestone in the firm and in the wider landscape of artificial intelligence in Europe.
