Cannabis co Akanda on a high after IPO prices
15/03/2022 16:05
** Akanda Corp AKAN.O shares surge in medical cannabis
firm's U.S. debut
** Shares last up 330.0% at $17.20. Stock trips several
volatility halts after rising as high as $31.00 early on
** UK-headquartered co late Mon sold 4 mln shares at $4 for
$16 mln raise urn:newsml:reuters.com:*:nBw9gRkpQa
** AKAN says it cultivates and processes natural cannabis at
facilities in Kingdom of Lesotho, Africa, intends to supply
medicinal-grade cannabis biomass, cannabis flower and cannabis
concentrates to wholesalers in international markets (See SEC
filing https://www.sec.gov/Archives/edgar/data/1888014/000110465922022336/tm2129724-6_f1a.htm)
** 458,827 shares have exchanged hands so far on the session
** Offering represents March's first U.S. IPO, and is the
first in about a month, as extreme market volatility has sapped
appetite for new issues
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))