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Source: Ontario-based Medical Cannabis Firm Raises $100M in IPO

Source: Ontario-based Medical Cannabis Firm Raises $100M in IPO

Dina Al-Shibeeb
toronto 1 20x15 - Source: Ontario-based Medical Cannabis Firm Raises $100M in IPO

An Ontario-based medical marijuana company, Green Organic Dutchman Holdings Ltd. (TGOD), has raised $100 million (US$78 million) in its initial public offering (IPO), a source familiar with the matter told Bloomberg.

The company priced its shares at $3.65 apiece and is expected to begin trading next week in Toronto, Bloomberg reported on Friday.

The source, who asked not to be identified since the matter is private, said the sale was several times oversubscribed and the over-allotment is also expected to be exercised, bringing total proceeds to about $115 million.

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