French genAI startup LightOn rises on market debut
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FILE PHOTO: AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) - Shares of LightOn, Europe's first listed genAI startup, rose as much as 9% on their debut on the Euronext Growth market in Paris on Tuesday.
The stock was trading at 10.79 euros per share by 0841 GMT, 4.2% higher than the 10.35 euros it was valued at during its initial public offering last week.
LightOn, which builds large language models for businesses and institutions such as Safran and France's Space Command forces, was valued at around 62 million euros ($65.1 million) in the IPO, against the 50 million in had originally expected.
($1 = 0.9517 euros)
(Reporting by Leo Marchandon and Nathan Vifflin in Gdansk; editing by Milla Nissi)
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