Cantourage Group SE has listed its shares on the Frankfurt Stock Exchange under the ticker symbol HIGH, WKN A3DSV0 and ISIN DE000A3DSV01.
The European medicinal cannabis company today made its successful IPO with shares now trading on the Scale segment of the Frankfurt Stock Exchange.
CEO of Cantourage, Philip Schetter, commented: “Today’s listing marks the start of the next phase in Cantourage’s growth story. We are pleased about the interest and trust of our investors and are proud to have reached this milestone in the young history of our company with our highly motivated team.”
Cantourage’s targeted European market for medicinal cannabis is estimated to grow to €3 billion (~£2.62 billion) by 2025. The German leisure market alone is estimated at between €4 and €7 billion.
Chairman of the board of directors of Cantourage Michael Ruoff, added: “Medical cannabis is already an important part of many therapies, and the market offers enormous growth potential – also against the background of planned legalisation of cannabis as a recreational drug. Today’s listing strengthens Cantourage’s business model.
‘I am happy and proud that we have taken this important step.”
The company has stated that it is growing in the European medical markets that already exist today faster than the market, and that the IPO offers Cantourage the opportunity to continue to grow both organically and inorganically.
In addition, investors can also invest in Cantourage, participating in the desired performance at an early stage and democratising the market for medicinal cannabis in Germany.
As a result of the placement, around 15% of the share capital, a total of almost two million bearer shares, can now be traded in free float on the Frankfurt Stock Exchange.