Cantourage goes public in Frankfurt
German cannabis company Cantourage went public last Friday. The share price jumped by over 130% on its first day of trading, making it one of the few most successful IPOs this year.
«We're Cantourage and we love cannabis,» said co-founder Florian Holzapfel as he rang the Frankfurt Stock Exchange bell on Friday morning, adding that the company is happy to say «HIGH», its stock symbol. Shares were trading at 15 euros on Friday at 1 p.m. and today at around 25 euros.
From medical to recreational
Cantourage distributes several cannabis-based medicines and pharmaceutical-grade CBD products in Europe and Asia. in Great Britain. With 38 partnerships and collaborations to date with cannabis growers in 17 countries, Cantourage offers a wide range of products, including cannabis flowers. In 2021, the company of over 35 employees, which also operates a medical cannabis clinic in Great Britain, achieved sales of over 5 million euros. It expects to triple this figure this year.
While the company was only founded in 2019, the founders had previously built a well-known cannabis pioneer, Pedanios GmbH, which was then sold to Aurora. At the time, Pedanios had been managing the Canada's first medical cannabis imports.
Former CEO of Aurora Europe, Philip Schetter is now CEO of Cantourage. He sees great potential for the future in current developments:
«Cantourage is one of Europe's leading medical cannabis companies and operates here in a fast-growing sector. According to estimates, the medical cannabis market alone will reach 7.7 billion euros in Europe by 2028. All the markets in which cannabis could be sold for adults are several times larger. In Germany alone, it is estimated that this represents almost 20 times the current medical cannabis market. Given the rapid growth in demand, we have completed the private placement and will now invest in expanding our cannabis flower manufacturing capacity. The planned IPO will also allow investors to participate in Cantourage's continued growth.»
CBD is said to promote athletic recovery, without improving performance
294 cannabis clubs in Chile: a booming movement with uneven distribution
Chronic Sciatica: New York Approves First Clinical Trial of a THC-Based Medication
United States: The DEA is accelerating the integration of medical cannabis at the federal level
Florida is nearing one million patients using medical cannabis
Uruguay Revives Its Plan to Allow Tourists to Legally Access Cannabis
In Brazil, researchers are developing an innovative CBD eye drop
Autism: Medical Cannabis Is Linked to Reduced Anxiety
The $28 billion U.S. hemp market remains under threat
Jamaica Eases Small Farmers' Access to the Cannabis Market
-
Business6 days agoThe legal cannabis market in New York exceeds 4 billion $ in revenue
-
Cannabis in France2 weeks agoWhich countries legalized medical cannabis before France?
-
Business2 weeks ago
South Korea is preparing to begin local production of medical cannabis to meet rising demand
-
Cannabis in the Netherlands4 weeks ago
One year after the launch of the Dutch cannabis experiment, the first trends are emerging
-
Cannabis in Thailand2 weeks ago
From the boom in dispensaries to a purely medical approach: Thailand is revising its cannabis policy
-
Cannabis in France4 weeks ago
French medical cannabis remains stalled at the Ministry of Health
-
Cannabis in Argentina3 weeks ago
Argentina Opens Its Market to Hemp Flowers Containing 1% of THC
-
Cannabis and driving2 weeks ago
Medical Cannabis and Driving: New South Wales Ends Automatic Penalties for THC
You must be logged in to post a comment Login