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Greek Cannabis Cultivator Waiting For Regulator’s Approval Before A SPAC London Listing

HELLENIC Dynamics is aiming to become the first medical cannabis cultivator to list on the London Stock Exchange.

Early last month UK SPAC Plc, an AIM-listed cash shell, announced it had acquired 100% of Hellenic and was aiming for listing on Standard segment of the LSE’s main market.

The deal is pitched at £45.2m, with some 9.5bn new shares to be issued at a price of 0.472p per share.

Hellenic’s Vice President Davinder Rai is confident that it will become a listed company, despite the UK’s complex legal framework surrounding such investments.

Mr Rai told BusinessCann: “We expect to join the LSE before the end of October at the latest.”

UK SPAC whose investors include Raglan Capital and Hargreaves Lansdown Nominees, has submitted a first draft of the prospectus to the FCA and made an application in respect of a Standard Listing.

Satisfying The Regulators

Late last year the Financial Conduct Authority said it was changing the rules to allow cannabis companies to list on the LSE.

A handful of cannabis and CBD companies have so far joined Europe’s largest stock exchange, including Kanabo Group, MGC Pharmaceuticals, Cellular Goods and Oxford Cannabinoid Technologies. [Read More @ Businesscann]

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