The IPO drought on the New Zealand stock exchange is set to be broken by a cannabis company.
Rua Bioscience has registered its product disclosure statements as part of an initial public offering (IPO) to attract investors.
This is the first IPO since Napier Port’s listing on the NZX in August last year.
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Rua Bioscience’s entry into the NZX will see the company join competitor Cannasouth, which debuted on the exchange in June last year.
The Rua Bioscience offer will be for 40 million shares at 50 cents per share, accounting for a total 28.6 per cent stake in the company.
The company aims to raise $20 million through…