London Is Open: Round Table Highlights

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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:   Virtual Round Table Highlights On 9 March 2021, Cannabis Europa and Prohibition Partners hosted an exclusive virtual round-table and networking event exploring the promising opportunities for cannabis-related businesses (CRBs) seeking to list on one of London’s capital markets successfully. The round-table was led by the CEO and co-founder of Prohibition Partners, Stephen Murphy, and he was joined by Eran Zucker (Managing Director at Peterhouse Capital), Jack Delaney (Senior Associate at Hill Dickinson) and Alasdair Haynes (Founder & CEO at Aquis Exchange).  FCA Listing Guidelines On 18 September 2020, the UK’s Financial Conduct Authority (FCA) updated its guidelines regarding cannabis-related businesses (CRBs) looking to float on the London Stock Exchange (LSE). The UK’s financial regulator announced that overseas and UK-based medicinal cannabis and CBD companies are eligible to float on the LSE as long as they abide by the Proceeds of Crime Act and hold the appropriate Home Office licences. This was a significant step for the European cannabis industry as the announcement was the first by a financial regulator to provide guidelines for CRB IPOs in the region. Following this announcement, the LSE saw three listings of CRBs in 2021: Kanabo, MGC Pharmaceuticals and Cellular Goods.  The announcement provides the industry with a clear set of guidelines, as Jack Delaney, Senior Associate at Hill Dickinson, confirmed: ‘It’s been an interesting journey, particularly in listing Kanabo this year. Typically, when clients come to us and want to speak about listing their cannabis company, they want to know how long it’s going to take and what steps to follow. For Hill Dickinson as their legal adviser,…

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