Weed stocks: Aurora Cannabis targerting US IPO in October

An
employee sorts freshly harvested cannabis buds at a medical
marijuana plantation.
REUTERS/Nir
Elias

• 
  Aurora Cannabis is planning for a US initial public
  offering in October, the company’s chief corporate officer
  said.
• The Canadian cannabis producer was reportedly in talks
  with Coca-Cola to make a CBD-infused drink.
• Marijuana stocks have been red-hot as of late.
• 
  Watch Aurora Cannabis trade in real time here.

Aurora Cannabis, the Canadian cannabis producer that was

reportedly in talks with Coca-Cola to make a drink infused
with CBD, one of the nonpsychoactive compounds found in
cannabis, is targeting a US stock-market debut in October, a
report says. 

“We’re targeting the month of October to establish a US
listing,” Cam Battley, Aurora’s 
chief corporate
officer,
told the Financial Post on Tuesday. 

An initial public offering on US markets has become more
attractive in recent weeks as cannabis stocks have seen
mouthwatering gains. It all started when
Canopy Growth received a $4 billion investment from Constellation
Brands, the beverage maker behind Corona beer and Svedka
vodka, sending its stock up more than 22% in a single day.

And rival Tilray
has seen its stock surge more than 900% following its July IPO.
It was recently boosted by word the company had received
clearance to export medical marijuana to the
United States for a clinical drug trial. 

But a listing won’t come without some risk. A Politico
report published last week said that workers of Canadian cannabis
companies could
face a lifetime travel ban to the US. 

“If you work for the industry, that is grounds for
inadmissibility,” Todd Owen, the executive assistant commissioner
for the US Customs and Border Protection’s Office of Field
Operations, told Politico.

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