London Stock Exchange welcomes Cellular Goods to the Main Market

Today, London Stock Exchange welcomes Cellular Goods plc to trading on the standard segment of the Main Market under the ticker “CBX” after it raised gross proceeds of £13 million through a 13 times oversubscribed IPO.

Cellular will be the first pure-play biosynthetic cannabinoids consumer products company to list on 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.

The past few years have seen massive growth and awareness of the importance of wellness and self-care, with cannabinoid products growing immensely in popularity. The US market for CBD sales is expected to exceed $20 billion by 2024, according to BDS Analytics and Arcview Market Research, with sales of CBD products in the UK having approximately doubled over the last two years.

Cellular Goods meets the growing need for a standout consumer brand with efficacy led and science backed products in a fragmented market which currently does not contain any trusted ‘household’ names.
The Company is initially focusing on two product lines, the first being high end skincare, and the second being topical athletic recovery products.

Net proceeds from the IPO will be deployed to finalise the development and launch of a range of the Company's premium-quality consumer products based on biosynthetic cannabinoids.

Alexis Abraham, Chief Executive Officer of Cellular Goods, said:

 “We are delighted with the tremendous support we have received from institutional capital and the unprecedented level of interest shown by retail investors for an IPO of this size.
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.

It is important for smaller investors to participate in flotations, and through PrimaryBid over 6,000 investors have gained access to this offering.
We want to develop products not just for our customers but with them and we are thrilled to have them here with us on this landmark journey.”
 

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
42.90
Listing/Admission to trading
26 Feb 2021
Looking for new and recent issues?

More recent

108.44
London Stock Exchange welcomes the Rt Hon John Glen, Economic Secretary to the Treasury, celebrating HM Treasury UK Sovereign Sukuk

The UK Government today celebrated the listing of its second sovereign Sukuk on London Stock Exchange. The 5-year offering was for £500 million, more than double the size of the UK Government’s debut issuance and the largest sterling Sukuk issuance to date. The UK’s second Sukuk saw strong investor participation, with demand from a diverse group of high-quality institutional investors from the

Learn more
97.84
London Stock Exchange welcomes Cornerstone FS plc to AIM

The Ordinary Shares of Cornerstone FS plc were admitted to trading at 8.00am on Tuesday 6 April 2021, under the stock market ticker CSFS. The placing price was 61p per share, resulting in a market capitalisation of £12.4 million.

Cornerstone FS plc, is a cloud-based provider of international payment, currency risk management and electronic account services to SMEs. Its strategy is to

Learn more
133.2
London Stock Exchange welcomes Deliveroo Holdings plc to the Main Market

Today, the online food delivery platform Deliveroo has made a significant step in the execution of its ambitious growth plans as it begins trading on the Main Market of London Stock Exchange, having raised net proceeds of around £1.5bn. Deliveroo’s admission is the biggest in London since 2011 and the largest UK technology listing of all time.

Founded in 2013 by Will Shu, Deliver

Learn more
77.64
London Stock Exchange welcomes Digital 9 Infrastructure plc to the Specialist Fund Segment of the Main Market

London Stock Exchange welcomed Digital 9 Infrastructure plc to the Specialist Fund Segment of the Main Market today, after it raised gross proceeds of £300 million in its Initial Public Offering.

Digital 9 Infrastructure plc (DGI9) is a newly established, externally managed investment trust. It will invest in a range of digital infrastructure assets which deliver a reliable, functioni

Learn more