We are delighted to have supported Cellular Goods plc on its admission to the Main Market of the London Stock Exchange, after it raised gross proceeds of £13 million through a 13 times oversubscribed IPO.
A total of 260,000,000 ordinary shares (representing 51.5% of the company’s issued share capital on Admission) have been issued at 5 pence each to institutional and retail investors, valuing Cellular Goods at a market capitalisation in excess of £25 million.
Cellular will be the first pure-play biosynthetic cannabinoids consumer products company to list on the London Stock Exchange, providing the investor community with a unique opportunity to capitalise on what researchers and analysts project to be a rapidly expanding market.
PKF acted as reporting accountant on the transaction and the Capital Markets team included Joseph Baulf and Lauren Haslam.
“We wanted to work with an experienced specialist in both capital markets and the growing cannabinoid sector when we decided to move forward with the IPO process. We value the support PKF Littlejohn provided in meeting our aspirations for the IPO and the future. We are excited about the future for Cellular Goods and the launch of our premium biosynthetic cannabinoid products later this year.” Simon Walters – CFO | Cellular Goods plc
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