Cantourage launches on the stock exchange
The cannabis start-up is now listed in Frankfurt. It has a valuation in the double-digit million range.
The Berlin-based cannabis start-up Cantourage has gone public. The company announced that it will be listed on the Frankfurt Stock Exchange from November 11. Cantourage is now listed in the Scale segment. This is where the Frankfurt Stock Exchange lists small and medium-sized companies. A total of 15 percent of the company's shares are now in free float. According to the company, Cantourage was valued in the high double-digit million range in the previous private placement.
Cantourage was founded in 2019 by Norman Ruchholtz, Florian Holzapfel and Patrick Hoffmann. The start-up sells cannabis flowers, dronabinol, cannabis extracts and CBD. The company also offers a cannabis import platform for Germany. According to the company, it has a market share of 20 percent for dronabinol in Germany. Dronabinol is another name for THC; the corresponding solutions are available in Germany as prescription drugs.
Cantourage now intends to use the capital raised through the IPO to expand its production capacities and tap into new markets. The start-up also wants to prepare for the upcoming legalization of cannabis in Germany.
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