Colleagues help medical cannabis company Equinox charge for the next float in London
Two colleagues will help the medical cannabis company Equinox collect when it trades on the London Stock Exchange this year.
Equinox is one of the few companies licensed by the Home Office to grow cannabis in the UK.
Yesterday, the company announced plans to leverage London’s AIM exchange for cash to help build a 20-acre site to start producing cannabis, which it hopes to sell to the NHS.
Director: Lord Great Chamberlain David Cholmondeley, descendant of the British Prime Minister, Sir Robert Walpole, with his wife Rose Hanbury
Equinox aims for a “significant share” of the medical cannabis market in the UK, which he said could be worth £ 7.5 billion by 2028.
The company’s founder is also known for the “cannabis lifestyle brand,” Mr. Nice, which stores at Selfridges that sell cannabis-themed clothing and CBD oil.
Its sponsors include Lord Cholmondeley, Lord Great Chamberlain and a descendant of the British Prime Minister, Sir Robert Walpole. Eton’s former student Cholmondeley, 61, represents the Queen in Parliament and serves on the Equinox board as a non-executive.
He married former model Rose Hanbury, who is 24 years younger than him, at Chelsea City Hall in 2009 and they have three children, according to Tatler.
Another sponsor is Baroness Manzoor, 63, a former chair of the Bradford Health Authority, who is the company’s non-executive independent director.
Co-founder and CEO Xan Morgan said the UK medical market will be one of the largest in Europe and that he could become a ‘British champion’.
He said: “We have one of the first commercial-scale medicinal cannabis cultivation and production licenses issued by the UK Home Office.” It was one of three companies to announce OPI’s intentions yesterday, as London suffered from floating fever.
Others that aligned the IPOs were battery technology company Gelion and regulatory and e-learning technology firm Skillcast.
Skillcast has raised £ 3.5 million, valuing it at £ 33.1 million. The company serves top companies such as Schroders, Fresnillo and British Land.
Gelion will raise £ 16 million by selling shares at 145p, which means it is worth £ 154.37 million. It will be listed on the exchange starting Tuesday, while Skillcast will float on Wednesday.
Herbal meal replacement maker Huel has also hired Goldman Sachs and JP Morgan as consultants to examine options that include a sale, but a float is their preferred option.
Founder Julian Hearn has a fortune worth hundreds of millions of pounds as the beverage maker prepares for a London list that could be worth up to 1 billion pounds.
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