Press release

Cantourage prepares for IPO

Berlin-based cannabis provider Cantourage, founded in 2019, is preparing an IPO for next year. The company is aiming to go public in the first quarter, co-founder Florian Holzapfel told the Frankfurter Allgemeine Zeitung on Tuesday. The company is to be valued at a three-digit million euro amount.

Cantourage specialises in cannabis in medicine and has been on the market since the middle of last year. Cannabis in medicine is also the basis for wooing investors, Holzapfel told the newspaper: “Basically, the stock market story will be based on medical cannabis.”

 

Debates about a general liberalisation in various countries would bring fantasy into this story. The business field “for recreational use” can also be imagined by Cantourage, the co-founder continued. “The company stands for offering cannabis to patients, but also to other people who want to consume it, as long as it’s legal.”

 

The plans to go public are relatively far advanced, co-founder Philip Schetter told “FAZ”. “We are still sounding out which stock exchange is the most suitable.” Specifically, he mentioned the USA, Canada and Great Britain. Germany plays a secondary role in the considerations.

 

According to Holzapfel, turnover this year will reach an amount in the millions “in the order of magnitude between one and two figures” – around nine million euros, as he confirmed when asked: “That already fits, in that direction.” The decisive factor for investors is the outlook. Turnover should “multiply” in the coming years, in 2022 by a “factor of three to four”.

 

In Germany, cannabis has been approved for use in medicine since 2017; it is mainly used to treat pain. A possible legalisation of cannabis is currently a topic in the deliberations of the traffic light parties. The Greens and the FDP have long been in favour of a legal, regulated trade in cannabis.