PKF supports first FCA approved prospectus for a medical cannabis RTO to the Main Market
We are delighted to have supported Spinnaker Opportunities plc renamed Kanabo Group plc on their admission to the Main Market of the London Stock Exchange following its reverse takeover (RTO) of Israel-based medical cannabis company, Kanabo Research Ltd.
Kanabo successfully completed an IPO of £6 million that was oversubscribed, giving it a market capitalisation of approximately £23.4 million on admission. Kanabo is the first cannabis company to list by way of RTO on London Stock Exchange.
PKF acted as reporting accountant on the transaction and the Capital Markets team included Dominic Roberts and Joseph Baulf.
“We greatly appreciated the support provided by the Capital Markets at PKF. The listening was a landmark in the sector and we needed an experienced Reporting Accountant with a professional approach. This listing marks an important step in the growth plan of Kanabo Group Plc and the cannabis market as a whole in the EU.”
Avihu Tamir CEO | Kanabo Group Plc
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