INTERNATIONAL - Canada’s Aurora Cannabis Inc said on Thursday it planned a US listing of its shares in October, as it looks to cash in on strong investor appetite for marijuana producers.
Interest has boomed in Canada’s marijuana companies ahead of legalisation of recreational cannabis in the country next month. Several US states have also legalised marijuana but it remains against federal law.
Shares of rival Tilray Inc have surged more than 1,000 percent since their listing in July. The other US-listed Canadian marijuana companies include Canopy Growth Corp and Cronos Group Inc.
Marijuana producers are in demand as several companies, including Constellation Brands Inc and Molson Coors Brewing Co, are looking to tap cannabis-infused drinks market.
Earlier this week, Coca-Cola Co said it was closely watching the fast-growing marijuana drinks market for a possible entry.
Aurora’s shares were up 4.7 percent at C$11.38 on the Toronto Stock Exchange. The company’s plan for a US listing was first reported by the Financial Post on Wednesday.