Article
Corporate Finance
Aurora Cannabis plans US stock listing in October
By baddey dey`
May 19, 2020
undefined mins
Vancouver-based cannabis producer Aurora Cannabis is planning a stock listing in the US, according to Financial Post
The firm, recently noted for its ongoing talks with Coca-Cola regarding a CBD-infused beverage, is currently listed on the Toronto Stock Exchange and would join Tilray Inc and Canopy Growth Corp as a dual-listed cannabis company.
Terry Booth, CEO at Aurora, told Bloomberg’s Terry Booth in March:
“We’ll look at all exchanges, we’ll look at New York Stock Exchange”.
Tilray Inc listed on Nasdaq in July, and its stocks have boomed by 1100% since to become the most valuable cannabis company in Canada, according to CNBC.
A recent spike in Tilray’s worth has been attributed to the company receiving approval to import cannabis products into San Diego for clinical trials at the University of California.
See more:
- Tilray secures approval regarding US clinical trial, share price soars
- Walmart Canada launches sustainable grocery delivery in Vancouver
- Northleaf lands US$2.2bn to strengthen global private equity program
It’s valuation of US$14.4bn on 18 September trumped former market leader Canopy Growth Corp at $11.5bn.
With recreational cannabis use set for legalization in Canada on 17 October, cannabis companies are seeing opportunities to appeal to US investors as the market prepares for a boom.
The Financial Post added that Aurora has made a string of recent acquisitions, including that of ICC Labs, a cannabis company based in Vancouver, for “around $290 million in stock”.
Share
Share
- Canopy Growth Corp: putting the customer firstLeadership & Strategy
- A taste of 2020 from OCS: Cannabis 2.0Leadership & Strategy
- Imperial Brands to invest $123mn in cannabis company AuxlyLeadership & Strategy
- Canadian cannabis company MPX International acquires Australian subsidiaryLeadership & Strategy
RelatedContent
