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Aurora Cannabis planning to list on major US exchange, says media reports

Listing on a major US exchange would enable Aurora Cannabis to widen the pool of investors in the stock

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Aurora Cannabis will list at a major US exchange.

Aurora Cannabis (TSX:ACB) is planning to list at a major exchange in the United States, several media reports said on Thursday.

Aurora's chief corporate officer Cam Battley told the Financial Post it is looking at an October listing, and that such a move would broaden the scope of aurora's would-be investors, "including US institutional investors, not all of whom are able to trade in OTC-listed securities."

The move to the US would allow Aurora to tap US investors after a string of acquisitions, such as the recent announcement it bought ICC Labs Inc, the Post report added.

READ: Aurora Cannabis acquires ICC Labs to expand in South American market

The report was confirmed by CNBC, which said it was given an email by a company official that it plans to list on a US exchange.

Cannabis stocks have been on a rampage, rallying to dizzying heights ahead of the legalization of cannabis in Canada next month. 

Shares of Aurora Cannabis closed in the OTC market in New York at US$9.49, up 12.44% on the day. In Canada, the stock advanced 12.7% to finish at the session high of C$12.25.

 

 

 

Quick facts: Aurora Cannabis Inc

Price: 2.26 CAD

TSX:ACB
Market: TSX
Market Cap: $2.64 billion
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