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Jah Rastafari approves: the first IPO of the marijuana manufacturer was successful

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Jah Rastafari approves: the first IPO of the marijuana manufacturer was successful
July 19
09:00 2018

There is some significant news for the followers of rastafarianism. The company Tilray, a Canadian manufacturer of marijuana, can boast the first successful IPO in the history of the industry, which was held on the Nasdaq exchange. An authoritative portal of financial news MarketWatch has reported this news.

As part of the IPO, the company managed to raise $ 153 million. This happened as a result of the placement of 9 million shares at a price of $ 17 per paper. Originally, each Canadian paper was estimated at $ 14-16. About 6.5 million shares were purchased by investors from the United States; the remaining 2.5 million shares were sold to investors from Canada and other countries. Privateer Holdings based in Seattle will remain the main shareholder of Tilray. Sock trading at Nasdaq will begin on Thursday, the securities will be traded with a ticker TLRY.

Tilray was founded in 2013. Its main profile is the cultivation, processing and sale of cannabis and products made on its basis.

The company obtained a federal license to carry out this activity in the United States. In 2016, it became the first legal supplier of medical marijuana from North America to the countries of the European Union. Currently, the company exports its products to Australia, New Zealand, Argentina, Chile, South Africa and a number of European countries, including Germany and Croatia.

In the first fiscal quarter of this year, Tilray’s net loss was $ 5.2 million with the revenue of $ 7.8 million. In January-March the company harvested 1.69 tons of marijuana and sold 1.3 tons of products at a price of 5.94 US dollars per gram.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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