London Is Open: Part 2

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  ‘London Is Open’ is a three-part series from Cannabis Europa and Prohibition Partners, exploring the promising opportunities for successful medicinal cannabis and CBD companies listing on the London stock markets this year.  Supported by:   Part 2 – Legal & Compliance – Path to a Successful Listing In this issue of the ‘London Is Open’ series, we will examine the regulatory process that medicinal cannabis and CBD companies need to be aware of, prior to a listing on London’s exchanges. This week the blog has been written in conjunction with the international commercial law firm Hill Dickinson LLP, who recently worked on the successful listing of Kanabo, providing in-depth regulatory insights of cannabis IPOs on London’s capital markets. What are the key steps companies need to consider before listing? The recent listings of Kanabo and MGC Pharmaceuticals on the LSE’s Main Market have attracted many cannabis-related businesses (CRBs), whether national or overseas, towards a potential listing opportunity on London’s capital markets. Although a listing is a fantastic opportunity for companies in the sector to harness investment and visibility, the decision to go public in London should be taken very seriously by CRBs as there are various caveats they need to consider. According to Michael Bennett, a partner at the international commercial law firm Hill Dickinson, “it is important to prepare early on in the development of the business for an IPO if that is a preferred liquidity event for investors. This would include ensuring that the issuer is fully compliant with current Home Office guidelines and that it holds all relevant licences and consents in respect of its business activities”. Along with holding all relevant licences (based on the nature of the applicant’s business and the jurisdictions where it operates), CRBs should appoint advisors suitable for the stock exchange…

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Source : London Is Open: Part 2

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