Investopedia: Europe’s First Marijuana IPO Planned for Next Month
Investopedia, 21 September 2018
Danish firm StenoCare is set to list its shares in Copenhagen next month, becoming the first cannabis company in Europe to cash in on growing investor interest in the marijuana industry.
“According to a press release, the firm hopes to raise 18.6 million Danish crowns ($2.9 million) on Copenhagen’s Spotlight exchange. The company, which was founded last year and has since become the first to get clearance to cultivate, produce as well as import medical cannabis in Denmark, plans to start growing marijuana plants next year. Until then, StenoCare will deliver its medical cannabis oil products to Danish pharmacies and hospitals using supplies imported from Canada’s CannTrust Holdings Inc. (TRST). It currently offers CBD Drops STENOCARE, THC Drops STENOCARE and 1:1 Drops STENOCARE. (See also: 5 Marijuana Stock Picks: Cowen)
CEO Thomas Skovlund Schnegelsberg told Reuters that StenoCare is raising money from an initial public offering (IPO) to launch its own production facility, so that it can better serve Danish customers and export to other European markets.”