This page is available in multiple languages
Select Language

Kumulus Vape lists on Euronext Growth Paris



Paris – 1 June 2021 – Euronext today congratulates Kumulus Vape, one of France's leading online retailers of electronic cigarettes and related products (equipment, e-liquids and accessories), on its listing on the public compartment of Euronext Growth Paris (ticker code: ALVAP).

Created in 2012, the company has rapidly become one of the leaders in the sector, in a regulated market whose recognition is growing. As a committed player in the vape industry, Kumulus Vape anchors its development at the heart of one mission: to offer, through vape, a safe and effective alternative to smoked tobacco by reducing its health and environmental consequences.

Kumulus Vape was listed through the admission to trading of the 2,842,335 shares making up its equity, of which 573,684 new shares were admitted under a Global Offering[1], after full exercise of the extension option. Listed on Euronext Access in 2019, the company is now entering a new phase of its stock market journey, which allows them to access new individual and institutional shareholders. The admission and issue price of Kumulus Vape shares were set at €9.50 per share. Market capitalisation was €27 million on the day of listing. Kumulus Vape raised EUR 5.45 million2 in the offer after the exercise of the extension clause.

The offering was a resounding success with institutional and individual investors with a global demand of €8.89 million, representing a global oversubscription rate of 2.96 times.

Rémi Baert, CEO of Kumulus Vape, said: “I would like to thank all the investors, both individual and institutional, for their trust and their contribution to the great success of the operation. The vape market is enjoying a very good dynamic that is supported by structurally promising trends. Thanks to the funds raised, we will be able to continue our development with increased visibility which, I am certain, will enable us to become one of the major players in the European vape market by 2023.

Kumulus Vape

Caption: Rémi Baert, CEO of Kumulus Vape and his team rang the bell during a virtual ceremony this morning to celebrate the Initial Public Offering of the company, with Guillaume Morelli, Director Listing SME France at Euronext.

About Kumulus VapeKumulus Vape has quickly become one of the leading French players in vape. Since its creation in 2012, the company has been driven by one mission: to offer a safe and effective alternative to smoked tobacco through the electronic cigarette in order to reduce its health and environmental consequences. With this in mind, Kumulus Vape has built one of the richest catalogues on the market with more than 7,000 products available (including many e-liquids) through its e-commerce platform for individuals and specialised shops. Between 2016 and 2020, Kumulus Vape's average annual growth exceeded 100%. In 2020, despite the exceptional context, the company achieved a turnover of over €22 million, up 113%, and an operating profit multiplied by 6.5 to over €1.3 million. For 2021, the objective is to exceed €30 million in sales. The company is based in Corbas, in the Lyon metropolitan area, and currently employs nearly 50 people. Kumulus Vape has been listed on Euronext Access since May 2019 (code ALVAP / ISIN: FR0013419876).


[1] The Global Offering was made up of a Public Offering that included an Open Price Public Offering and a Global Placement with institutional investors in France and other countries. 2 Including a €3.45m capital increase and €2m from the sale of existing shares.

Press Release Footer

About Euronext 
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With more than 1,900 listed issuers and around €6.5 trillion in market capitalisation as of end June 2023, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.  
For the latest news, follow us on Twitter ( and LinkedIn (

This press release is for information purposes only and is not a recommendation to engage in investment activities. This press release is provided “as is” without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext.

This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is located at

© 2023, Euronext N.V. - All rights reserved.