Milestone As First German Cannabis Company Debuts On Dusseldorf Stock Exchange

Says UK based Cannabis Business Executive…….

GERMANY has its first publicly-listed cannabis company in Cannovum, a Berlin-based importer wholesaler and distributor of medical cannabis.

Co-founder Pia Marten described its listing on the Dusseldorf Stock Exchange as a huge milestone for the industry.

“We are the first German cannabis company, fully-licensed, to debut on a German stock exchange. While this is significant for ourselves it is also very significant for the industry.

“When it comes to medical cannabis there is still a lot of stigma around it. Here in Germany a lot of people still see it as a drug and not a medicine. Our aim is to position ourselves as a serious pharma company,” she said.

Investor Access

Ms Marten founded Berlin-based Cannovum with Marius Koose in 2019 as a wholesaler and distributor of medical cannabis products to the country’s pharmacies.

It is now close to launching its own branded range of cannabis flowers and extracts after signing an agreement with a pesticide-free cultivator in a southern European country.

Ms Marten said the reasoning behind the market flotation on May 6 – it is now also listed on the Hamburg and Berlin Exchanges – was for reasons of transparency and investor access.

She said: “Right now you can only invest in private companies and those shares are quite illiquid. This move on the market will give investors the opportunity to be part of it – this is just the beginning.”

Cannovum did not do a traditional IPO, rather a Direct Public Offering with its 2,316,200 existing shares being priced at €5 giving it a market value of €11,581,000.

The investor base prior to the direct listing consisted mainly of its family and friends network and later fund-raises had secured additional investor capital, which included blockchain investors Florian Reike and Robert Küfner.

Huge Milestone As First German Cannabis Company Debuts On Stock Exchange

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