StenoCare: the first European cannabis company to be listed on the stock exchange

Taking advantage of September's stock market fever around cannabis, the Danish company StenoCare is preparing for an IPO on the Copenhagen's Spotlight Exchange. It is the first European cannabis company to be listed on the stock exchange. The company's main activity is the production of cannabis oil, now internationally recognized as a drug for certain forms of epilepsy.

Denmark legalized medical cannabis use and production on January 1 as part of a pilot project. StenoCare is the first company to obtain government authorization to import, produce and sell medical cannabis in Denmark. The aim of the IPO is to raise funds for the creation of local production structures (for the moment, the company imports its oil from Canadian CannTrust), enabling it to supply both the national and European markets.

The current state of the European market is limited to Germany, the United Kingdom, the Czech Republic and Italy (the only countries that also authorize the medicinal use of cannabis oil), but there are a number of exceptions. is already the subject of considerable speculation. Despite North American competition, the Danish company's proximity to its customers and its ambition to create vertically integrated structures could give it a significant comparative advantage.

The company's ambition is to raise $2.9 million. The share subscription price is set at $1.39 or 1.18 euros. The company is valued at a total of $7.1 million. Subscription period begins today and closes on October 9. Visit trading will begin on October 26.