Medical cannabis group grows plan for listing
Added on 28 April 2023
Sky News has learnt that Jersey-based Northern Leaf is working with finnCap Cavendish on a listing plan that could see its shares begin trading as soon as this summer.
One source said the company hoped to attract a valuation of about £60m.
Northern Leaf, whose shareholders include AIM-listed SEED Innovations, raised £3m in a pre-IPO funding round earlier this year.
Founded in 2019 by Gerald Snyman, an agricultural entrepreneur, it is partly owned by Chrystal Capital Partners and a consortium of Jersey-based private investors.
Last year, the company recruited Don Perrott from Aurora Medicine as its chief executive.
Frank Walker, Jersey's former chief minister, has been lined-up to chair Northern Leaf's board, while Paul McCabe, who was previously the island's chief pharmacist, is the company's head of quality and regulation.
Photo: The company has invested £30m in building a 100,000 square foot growing facility. Courtesy of Northern Leaf