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The Danish Stenocare makes its debut on the stock market.
The medical cannabis company Stenocare starts today on Oct. 26 and will be traded on the stock market Spotlight. Danish Stenocare becomes the first publicly traded cannabis company in Europe. The action will be traded in Danish kroner under the name STENO card.
The new issue for the DKK 18.6 million listing was subscribed for 402 million DKK, more than 20 times more underwriting. The public part of the rights issue, that is, the part that had not been previously agreed in advance, was canceled more than 50 times. The company has 2,100 new shareholders.
Stenocare issues 2.11 million new shares and then has 8.90 million shares outstanding. The company will receive 18.6 million DKK before issue costs of 1.4 million DKK. The subscription price was SEK 8.80 per share. The market capitalization amounts to DKK 78 million on the basis of the subscription price.
Stenocare was the first company in the Danish market to obtain a license from the Danish pharmaceutical agency to cultivate, produce and import cannabis for medical purposes.
The company is now the only supplier of the experimental program, which has started to supply cannabis-based products for medical purposes to Danish pharmacies and hospitals through the two main distributors. pharmaceutical products from Denmark. The original products are imported from Stenocare's Canadian partner, CannTrust, and are available in large quantities.
Stenocare will also develop a separate production unit for the cultivation and production of proprietary cannabis products at the company's premises in Jutland, Denmark.
During the first trading on Friday, this share rushed to 239%.
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