Equinox eyes London IPO for British homegrown medical cannabis

equinox eyes london ipo for british homegrown medical cannabis

Sumary of Equinox eyes London IPO for British homegrown medical cannabis:

  • Medical cannabis business Equinox International is planning to list on the London Stock Exchange to raise cash for a ‘state-of-the-art’ cultivation, extraction and production facility on a Home Office-approved 20-acre UK site.
  • Self-described ‘British cannabis champion’ Equinox, which is the UK’s first ‘land-to-brand’, vertically integrated medical cannabis company, will offer retail investors the chance to access the IPO via site PrimaryBid.
  • The UK currently imports 100 per cent of its medical cannabis, which was legalised in 2018, and Equinox says a homegrown solution would make its procurement less ‘expensive, complex and time-consuming’, while improving quality, oversight and growth potential.
  • Co-founder and CEO of Equinox Xan Morgan said: ‘The UK medical cannabis market is forecast to be one of the largest in Europe and Equinox has a significant first-mover advantage to build a British champion and transform patients’ lives.
  • ‘Equinox has one of the first commercially-scaled medical cannabis cultivation and production licences issued by the Home Office, and post-IPO it hopes to build a pipeline of revenues via NHS medical sales and strategic supply partnerships.
  • The IPO would also give the firm ‘enhanced profile and visibility in the UK and across international cannabis markets’.
  • The cannabis industry is predicted to be worth $57billion by 2027, according to data from Arcview Market Research and BDS Analytics.
  • Most countries still ban the supply of cannabis for recreational use but many have legalised the plant in recent years for medical use.

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