Cannabis companies can now list on the London Stock Exchange

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UK-based cannabis companies have struggled to dominate the British capital market, despite their strong presence. Medical cannabis has been legal in the UK since 2018. However, these companies haven’t been able to list on the London Stock Exchange (LSE). This changed for the better in September 2020, thanks to the Financial Conduct Authority (FCA). In September, The FCA came up with a set of guidelines that would allow them to list on the LSE. One of these guidelines states that companies can only list if they provide cannabis for medical use. This change has given hope to a multitude of UK-based cannabis companies. 2021 might be off to a slow start, but these companies have hit the ground running. A number of them are racing to be the first to list on the LSE. At The Extract, we have no doubt that we’ll see more and more companies on the LSE, as the year goes by. However, some companies are already in the final stages, speaking to investors about IPOs, as they prepare to list. Who are these companies? With companies scrambling to be the first to list on the LSE, we’re bound to see the majority of UK-based cannabis companies throwing their hats into the ring. That being said, these listings all depend on FCA guidelines — and whether or not these companies meet them. However, we’re currently aware of three companies that are already vying for the first LSE listing. According to the Financial Times, these companies are MGC Pharmaceuticals, Kanabo, and Emmac. MGC Pharmaceuticals is an Australian biopharmaceutical company. They are in the process of developing an epilepsy drug, made from cannabis. They also make and sell a variety of high-quality CBD tinctures. RELATED ARTICLE: Buy CBD Isolate Wholesale For Your Business CONTINUE READING We’re pleased to…

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Source : Cannabis companies can now list on the London Stock Exchange

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