Cilo Cybin becomes first medical cannabis company to list in South Africa
South Africa's Cilo Cybin on Tuesday became the first medical cannabis company to list on the Johannesburg Stock Exchange's Alternative Exchange, as it hopes to capitalise on growth in the legal marijuana industry.
South Africa in 2018 legalised marijuana for personal use and in 2019 legalised the sale of cannabidiol, a non-psychoactive compound derived from the cannabis plant.
Cilo Cybin said the global medical cannabis market is projected to grow to about $40.48-billion by 2032 from $12.6-billion in 2023.
"As the markets mature, we want to be at the forefront of taking advantage of them," Cilo Cybin CEO Gabriel Theron told Reuters.
Funds raised from the listing will help the company "tap into the growing global investor appetite for alternative medicines," he added.
The company, which was founded in 2022, focuses on acquiring businesses that are in the medical cannabis manufacturing process.
Cilo Cybin will manufacture in the Australian market where it sells cannabis oils, flowers and pharmaceutical ingredients to about 10,000 consumers every month.
The company fell short of the R50-million needed to list on the main board of the JSE in 2022.
Cilo Cybin is also aiming to list on the Nasdaq in the next three years.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation