LCA Studio Legale Advises Kaleon on Simultaneous IPO and Dual Listing on Euronext Growth Milan and Paris

LCA Studio Legale represented Kaleon in its IPO and dual listing on Euronext Growth Milan and Euronext Growth Paris. Other advisers to Kaleon included Emintad Italy as financial advisor; Equita SIM as global coordinator and Euronext Growth advisor on Milan; TP ICAP Europe as co-global coordinator and listing sponsor on Paris; KPMG as auditor; Studio Alfuor as tax advisor; Adagio23 as advisor on the circulation of management and extra-accounting data; Barabino & Partners as communications consultant in Italy; and NewCap as media and investor relations advisor for the French retail market. The transaction comprised the initial public offering and the concurrent admission to trading of Kaleon’s ordinary shares on both Euronext Growth Milan and Euronext Growth Paris. It is noted as the first case of a simultaneous IPO on these two markets and one of the most significant capital raises of 2025. Trading is scheduled to commence concurrently on the Milan and Paris boards on 1 December. The offer price was set at €4 per share, implying a market capitalization of approximately €56.5 million at the start of trading. The free float will be about 29.20% of the share capital excluding any exercise of the greenshoe option and approximately 31.86% in the event of full exercise. The total value of the placement amounts to €18 million, including the greenshoe, and 4.5 million shares were allocated based on demand under the offering. LCA Studio Legale represented Kaleon with a team composed by: Benedetto Lonato, Edoardo Berni, Martina Lacalamita, Alessandro Iustulin and Laura Scarola, with the support of founder Giovanni Lega.

LCA Studio Legale Advises Kaleon on Simultaneous IPO and Dual Listing on Euronext Growth Milan and Paris

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