Kaleon S.p.A. © 2026

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In order to access the admission document / information document (the “Admission Document / Information Document”), it is necessary to read and accept the notice set out below, which the reader must carefully review before reading, accessing, using or otherwise handling in any way the information provided herein. By accessing the section of this website containing the Admission Document / Information Document, you agree to be bound by the terms and conditions set out below, which may subsequently be amended or updated and must therefore be read in full each time you access the aforementioned section of this website.

The Admission Document / Information Document has been prepared pursuant to the regulations applicable to issuers on the multilateral trading facility organized and managed by Borsa Italiana S.p.A., “Euronext Growth Milan” (the “Euronext Growth Milan Issuers’ Regulations”) as well as on the multilateral trading facility operated by Euronext Paris S.A., “Euronext Growth Paris” (the “Euronext Growth Paris Rules Book”), for the purpose of the admission of the ordinary shares and other financial instruments (the “Financial Instruments”) of Kaleon S.p.A. (the “Company”) to such multilateral trading facilities.

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      Company

      With a deep expertise in cultural destination management, Kaleon offers a business model that unites cultural stewardship, sustainable growth, and visitor-centered innovation—aiming to unlock the full potential of heritage assets for generations to come.

      Who we are

      Kaleon: innovation in Heritage Management

      With a unique business model and more than forty years of experience in tourism management through the Terre Borromeo circuit, Kaleon operates in the management and preservation of cultural and artistic treasures owned by families, institutions, and foundations.

      Founded on deep expertise and guided by the values of responsibility and sustainability, Kaleon enhances, preserves, and safeguards Italian and international historical and artistic heritage, making it accessible and enjoyable over time.

      What we do

      Preserving Yesterday to inspire Tomorrow.

      • Our mission

        Kaleon is pioneering an innovative approach to the protection of cultural heritage, combining conservation, sustainability and economic development.

        The aim is to promote a cultured and respectful form of tourism, capable of combining the enhancement of places with their protection.

      • An integrated ecosystem

        In addition to managing cultural sites, Kaleon invests in an ecosystem of complementary services that enrich the visitor experience.

        Cafes, restaurants, boutiques, bookshops, sports equipment rentals and accommodation facilities contribute to creating an integrated tourist offer, designed to enhance each destination while respecting its identity and history.

      • A curiosity: the
        name and symbol

        From the Greek καλεόν (‘beautiful’), the name expresses a deep respect for beauty and the value of the cultural treasures it holds. A declaration of intent: relying beauty as a legacy for future generations.

        The logo is inspired by the Vatican Pine-cone, a symbol of ancient wisdom, eternity and regeneration. A choice that represents a bridge between memory and innovation, between history and cultural growth.

      Our core Services

      We assume full operational responsibility for historic properties, from daily maintenance and conservation to strategic planning and financial management, while ownership remains with the original custodians.

      We design and implement visitor programs that balance accessibility with preservation, creating meaningful cultural experiences that educate, inspire, and generate sustainable revenue.

      Our teams work with restoration specialists to ensure every property maintains its historical integrity while meeting contemporary safety and accessibility standards.

      Building the Future of Heritage Management

      Kaleon is preparing for public listing on Italian and French stock exchanges, strengthening our commitment to transparency, sustainable growth, and stakeholder value.

      • Experience in properties management

        +40 Y

        since 1983

      • Annual Visitors

        1m +

        2023

      • Incoming Tourists

        72%

        2023

      • Revenue

        € 22m

        2024

      • Sales CAGR

        + 10%

        2015-2024

      • EBITDA Margin

        25-30%

        2022-2024

      • Discover more