MGC blazes trail for London-listed cannabis companies

MGC Pharmaceuticals Ltd (LON: MXC) has become the first cannabis-related company to gain a Main Market listing following the clarification of the rules last year. The shares got off to a strong start.

The Australia-based biopharma company was already trading on ASX, following a reverse takeover in 2016, prior to the standard listing. One-fifth of the enlarged share capital was issued in the placing, which raised £6.5m at 1.475p a share. The costs of the flotation were £500,000. The market capitalisation was £32.9m.


In the year to June 2020, revenues were A$2.08m, while the lo...

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Andrew Hore is the publisher of AIM Journal, which is an online monthly publication covering the Alternative Investment Market.