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IN BRIEF: MGC Pharmaceuticals applies for cannabinoid patent
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London s First Medical Cannabis Firm MGC Pharma Starts Trading
Tue, 9th Feb 2021 10:37
(Alliance News) - Medicinal cannabis firm MGC Pharmaceuticals Ltd has started life in London on Tuesday, after raising GBP6.5 million from an oversubscribed placement of 442 million shares at 1.475 pence each.
MGC was trading at 2.385p in London on Tuesday morning.
The firm - which noted it is the first London-listed medicinal cannabis company - raised its IPO funds from UK institutional funds, high net worth family office and professional investor clients of Turner Pope Investments.
MGC is already listed in Australia and is a Europe-based biopharmaceutical company specialising in the production and development of phytocannabinoid-derived medicines.