cbd energy ipo

Cbd energy ipo

Cannabinoid, also known as CBD, is the non-psychoactive extract from cannabis that has a wide range of uses including relief from anxiety, depression and PTSD.

Cellular Goods PLC is raising £8mln through a share offering that would value it at £20mln.

“A London stock market listing will provide us with the profile, credibility and access to global capital to drive our growth,” chief executive Alexis Abraham explained in a statement.

“There is a burgeoning market for high-quality cannabinoid products but the industry is currently highly fragmented and there is no go-to name that consumers can trust across product categories.”

In the US, the world’s most developed market for CBD, annual revenues from oils and food additives are expected to be around US$20bn by 2024, according to market research.

The company will be chaired by Peter Wall, co-founder of Argo Blockchain, while David Gardener has been appointed an independent director. He heads DB Ventures, which oversees former footballer David Beckham’s commercial interests.

Joining them as a non-executive director will be DB’s commercial director, Ross Connolly, who has worked with clients such as Neymar, Harry Kane, Philippe Coutinho and Nico Rosberg.

A company producing synthetic cannabinoids products that is understood to be backed by David Beckham’s DB Ventures has announced float plans.

Traditionally farmed from hemp, Cellular’s lab-based approach provides an alternative to the expensive and time-consuming intensive agriculture currently required.

Cbd energy ipo

CBD stands for cannabidiol – the non-psychoative compound in cannabis plants. It is used medicinally to treat conditions including insomnia, and demand for products containing the compound is growing fast in the UK. Bank of America Merrill Lynch has estimated CBD’s global consumer market is set to reach a value of $39 billion by 2032.

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Arden Partners are working with the firm on the planned IPO, sources said.

The company has hired News UK executive and British Fashion Council advisory board member, Meribeth Parker, as non executive chair ahead of the rumoured float. Parker has previously served as an NED for high-end brands including Jimmy Choo.

The Evening Standard understands the company plans to use proceeds from the listing to help grow its portfolio and pursue product rollouts.

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Parker said she is “delighted” to be joining the firm, and that “it’s refreshing to see a driven and dynamic female senior team in place at South West Brands and the unique perspective that creates”.

Many have received a warm welcome from the markets in 2021, including the Snoop Dogg-backed Oxford Cannabinoid Technologies, the David Beckham-backed firm Cellular Goods, and Israel-based sleep disorder-focused CBD firm, Kanabo.

Hall has previously told the Standard that it is “time for the professionalisation” of the industry, and that the firm aims to offer products containing CBD without it being “a shock factor”.

outh West Brands, the all-female led CBD products firm, is to pursue a London IPO, the Evening Standard understands.

SWB is the first multi-brand consumer goods business in the space to list.