Blazing a trail in the cannabis market

Blazing a trail in the cannabis market

08 May 2017 By Tom Lodewyke
Alan Jessup

A medical cannabis company has been advised on its initial public offering and ASX listing.

Firm: Piper Alderman (The Hydroponics Company Limited)

Deal: The Hydroponics Company Limited (THC) has completed its IPO and listing on the ASX.

Value: $15.7 million

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Area: Corporate

Key players: Corporate partner Alan Jessup (pictured) and special counsel Dahnia Mithiran led the Piper Alderman team advising THC.

Deal significance: THC has completed its IPO and ASX listing, aiming to capitalise on the growing medical cannabis industry.

Its goal is to become a leading worldwide cannabis business, focusing on the manufacturing and distribution of hydroponics equipment and cannabis products, as well as large-scale greenhouse design and construction.

“This IPO is the result of the aggregation of a number of businesses including the breeding, variety selection and growth management of cannabis sativa, resulting in the company being well-placed to take advantage of the new regulatory regime in relation to the production and manufacture of medicinal cannabis,” said Piper Alderman partner Alan Jessup.

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However, further legislative change is needed before Australia’s medical cannabis industry can truly open up, according to Mills Oakley partner Dr Teresa Nicoletti.

Blazing a trail in the cannabis market
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