Hellenic Dynamics is aiming to become the first medical cannabis cultivator to list on the London Stock Exchange. Early last month UK SPAC Plc, an AIM-listed cash shell, announced it had acquired 100% of Hellenic and was aiming for listing on the Standard segment of the LSE’s main market. The deal is pitched at £45.2m, with some 9.5bn new shares to be issued at a price of 0.472p per share. Hellenic’s Vice President Davinder Rai is confident that it will become a listed company, despite the UK’s complex legal framework surrounding such investments. Mr. Rai told BusinessCann: “We expect to join the LSE before the end of October at the latest.” UK SPAC whose investors include Raglan Capital and Hargreaves Lansdown Nominees has submitted a first draft of the prospectus to the FCA and made an application in respect of a Standard Listing. Satisfying The Regulators Late last year the Financial Conduct Authority said it was changing the rules to allow cannabis companies to list on the LSE. A handful of cannabis and CBD companies have so far joined Europe’s largest stock exchange, including Kanabo Group, MGC Pharmaceuticals, Cellular Goods, and Oxford Cannabinoid Technologies.
Cannabis Business Executive – Cannabis and Marijuana industry news, 09/08/2021 09:45:00