Not often we see any news coming out of Russia about hemp. or cannabis
Russian industrial hemp producer, Smart Hemp, wants to expand production to a dozen regions at home as demand for textiles made from the plant grows in China and elsewhere, boosting prospects for a possible future listing, its founder said.
Maxim Uvarov, who previously worked in health industry, began hemp cultivation in 2017 and is building his first plant to process hemp in Russia’s Ivanovo region, about 300 km (200 miles) east of Moscow. The plant is due to start up this year.
“As soon as we mark the launch and prepare contracts, we will start thinking of an initial public offering (IPO),” Uvarov told Reuters, saying a preparation for the share offering could take place in 2022.