Though medicinal cannabis was legalised a year ago in the U.K., capital markets activity has been largely limited to fringe trading venues. One company preparing to make the jump to the London Stock Exchange could bust the sector wide open.
Cannabidiol and medicinal cannabis company Sativa said it will look to list on LSE’s junior market AIM early next year, the first initial public offering of the sort for Europe’s largest exchange. While already listed on the lesser-known NEX Exchange, the company “had numerous institutional shareholder requests” to move to AIM, said Chief Executive Officer Henry Lees-Buckley.
Sativa Group Plc (NEX:SATI) is the UK’s leading quoted CBD Wellness and medicinal cannabis group with five operating subsidiaries. Goodbody Botanicals provides CBD products online and to retail markets including pharmacies, wellness stores and grocers. Goodbody Wellness is a high-street retail brand with dedicated CBD Wellness stores providing a premium shopping experience to consumers. Tessellate Collective is a direct-selling network marketing platform servicing consumers at home. Phytovista laboratories provides independent testing of CBD products to both external customers and fellow Group businesses. Sativa Grow holds a Controlled Drug licence and cultivates cannabis plants to fulfill its partnership agreement with King’s College London to research the impact of cannabinoids on inflammation and respiratory conditions.