Financial Advisor – Peterhouse Capital
Law Firm – Hill Dickinson
Representing MGC Pharmaceutical
Financial Advisor – Turner Pope Investments
Law Firm – Memery Crystal
In February 2021, Sterling helped two pharmaceutical cannabis companies launch on the London stock market: Kanabo and MGC Pharma. The success of these two ground-breaking IPOs demonstrates that the UK and its investors are ready for medicinal cannabis stocks.
Cannabis was legalised for medical use in the UK in 2018 and yet it was only last year in 2020 that the UK’s Financial Conduct Authority (FCA) determined that medical marijuana companies could publicly list in the UK.
Kanabo is an Israel-based company specialising in the development and distribution of cannabis-derived products for medical patients, using a purpose-built vaporiser unit to deliver measured doses.
MGC Pharmaceuticals is a bio-pharma company whose areas of scientific interest revolve around developing treatments for epilepsy, Alzheimer’s and Covid-19-infected patients.
Cannabis has become a buoyant investment market after marijuana was legalised for recreational use in certain parts of North America. This trend, combined with the growing mainstream acceptance of medical cannabis products, has led to a surge in interest in the US – and now in Europe.
Avihu Tamir, Founder and CEO of Kanabo, stated:
" With the support of the FCA and London Stock Exchange, the medical cannabis industry is set to take off in the UK and in Europe, similar to what's happened in North America in recent times. This is just the beginning."
These two well-publicised launches of Kanabo and MGC Pharma onto the London Stock Exchange arrived soon after two other high-profile IPOs for Moonpig and Supreme Imports that Sterling also helped bring to market.
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