In the latest marijuana news, Aurora Cannabis announced that the company will list its shares in the New York Stock Exchange (NYSE) under the symbol ACB.
The company said it has filed an application to list its common shares in the exchange, although the move remains subject to the approval of the NYSE, as well as the satisfaction of all applicable listing and regulatory requirements. The marijuana retailer projects that it will have all the licenses and approvals necessary to begin trading on the NYSE before the end of October 2018.
In anticipation of the intended listing, Aurora Cannabis said it has filed a Form 40-F Registration Statement with the United States Securities and Exchange Commission. It has been an impressive year for the marijuana company as its market capitalization has skyrocketed in recent months, reaching $11 billion.
Nevertheless, this stock price is still below its January high, while also failing to meet some of its competitors in the industry. Aurora Cannabis has been using its inflated share prices to finance some expensive acquisitions that helped the company grow.
“We are also well-prepared for the launch of the domestic adult consumer use market in Canada with a portfolio of strong consumer brands and coast-to-coast provincial supply arrangements covering 98% of the Canadian population,” said Terry Booth, CEO of Aurora Cannabis.
