Cantourage launches on the stock exchange

The cannabis start-up is now listed in Frankfurt. It comes to a valuation in the double-digit million range

Berlin-based cannabis start-up Cantourage has gone public. The company announced that it is listed on the Frankfurt Stock Exchange as of November 11. Cantourage is now in the Scale segment there. 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. In the previous private placement, Cantourage was valued in the high double-digit millions, according to the company.

Cantourage was founded in 2019 by Norman Ruchholtz, Florian Holzapfel and Patrick Hoffmann. The startup sells cannabis flower, dronabinol, cannabis extracts and CBD. In addition, the company offers a cannabis import platform for Germany. For dronabinol, the company says it has a 20 percent market share in Germany. Dronabinol is another name for THC, and the corresponding solutions are available in Germany as prescription drugs.

With the capital raised through the IPO, Cantourage now wants to expand production capacities and tap into new markets. The start-up also wants to prepare for the upcoming cannabis legalization in Germany.