RE: Cellular Goods24 Feb 2021 17:08
The company said 260 million shares, 52% of its total, will be issued at an offer price of 5 pence a share. A total of 192 million shares have been conditionally placed with institutional investors and 68 million have been allocated to retail investors through PrimaryBid.
"We want to involve as many private investors as possible so that they can both be part of and benefit from our growth as we become the trusted brand in consumer cannabinoids. Technology now means that listening at scale is not just a possibility but a requirement for successful consumer brands. We firmly believe that the future of the cannabinoid industry will be driven by biosynthetic production and our significantly oversubscribed IPO is a sign of investor confidence in this future," said Chief Executive Alexis Abraham.
Cellular Goods said it will have a total of 504.8 million shares in issue upon admission to the LSE, which is expected to be on Friday. Its ticker will be CBX.