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 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. [Read More @ Businesscann]
The post Greek Cannabis Cultivator Waiting For Regulator’s Approval Before A SPAC London Listing appeared first on Cannabis Business Executive - Cannabis and Marijuana industry news.
Copyright
© Cannabis Business Executive
