Greek Cannabis Cultivator Waiting For Regulator’s Approval Before A SPAC London Listing | Cannabis Business Executive – Cannabis and Marijuana industry news

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…
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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.

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