Tilray latest Canadian cannabis firm to launch IPO on a US exchange

Tilray latest Canadian cannabis firm to launch IPO on a US exchange
Tilray is now listed on Nasdaq, under the ticker “TLRY.” (File image via Reuters)

Tilray on Monday became the latest Canadian cannabis firm to launch an IPO on a US exchange.

Tilray is now listed on Nasdaq, under the ticker “TLRY.” Now it has joined two other Canadian counterparts, Cronos Group (CRON) and Canopy Growth Corp. (CGC), who are also listed on major US exchanges.

After filing for an IPO last month, Tilray said it would offer $9 million shares with an expected price range at $14 to $16 a share.

Regulatory disclosures say that Tilray supplies marijuana in Canada and parts of Latin America, Europe, Africa, Australia and New Zealand.

On February, Cronos became the first marijuana stock to list on Nasdaq. In May, Canopy made its debut on the New York Stock Exchange.

Other US cannabis companies are also making their way to the stock market.  MedMen, a marijuana cultivator, and retailer in the US, went public in Canada in May. The New York-based High Times is also planning an IPO for later this year.

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