Medicinal cannabis firm Cannasouth plans NZX listing with $10 million IPO

A homegrown medicinal cannabis company is wanting to sell up to $10 million worth of shares to the public and list on the New Zealand stock exchange (NZX).

Waikato medicinal cannabis research and development company Cannasouth plans to raise a minimum of $5m through an initial public offering (IPO) of new shares before listing on the NZX.

On Friday it lodged a product disclosure statement with the Companies Office, an essential step companies must take when selling shares to the public.

The offer opens on May 27 and is expected to close on Friday June 14. Following completion of the offer, Cannasouth will list its shares on the NZX main board.

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