The world’s largest cannabis grower and distributor is exploring a secondary listing in Europe, including in Frankfurt and London, to capitalise on growing investor interest after the drug became legal to use in Germany on Monday. Germany now has some of Europe’s most tolerant laws on recreational use of the drug, with adults permitted to carry 25 grammes. Commercial cultivation is still illegal but medical prescriptions and production have been liberalised. “We’re very much interested in a European listing”, said Juan Martinez, the head of Curaleaf International, who added that current restrictions meant “the only listing in Europe that is possible is a very limited listing in the second board of Frankfurt”. But the company added: “We are actively exploring avenues to bolster shareholder value, which includes discussions with various exchanges, including those in Germany and London.” Curaleaf is listed on the Toronto Stock Exchange in Canada, which legalised consumption and limited production of cannabis in 2018. Cannabis is banned at federal level in the US, although it is legal for recreational use in 24 states.
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