Cilo Cybin Pharmaceutical Ltd. is considering an initial public offering in the next 12 months after becoming the first South African company to win the right to grow, process and package cannabis products.
The firm, named after the psychoactive substance in magic mushrooms, received the required certification from the South African Health Products Regulatory Authority. It will now be able to produce marijuana for sale to consumers around the world, founder and Chief Executive Officer Gabriel Theron said in an interview.
“The plan for the next 12 months is to go public,” Theron, 40, said at Cilo Cybin’s operations near Pretoria. “We are planning a dual listing with the main board being the Johannesburg Stock Exchange, and we are thinking Luxembourg possibly for a secondary listing or another bourse in Europe.”
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Cannabis Firm Plans South Africa IPO, Magic Mushroom Expansion
Little Mushroom by Theo Crazzolara is licensed under CC BY 2.0