New Zealand cannabis firm Rua Bioscience today opened its priority share offer ahead of its NZX listing later this month.
This first stage will see $15 million in shares made available to the large retail brokers and institutional investors.
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A further $5m worth of shares will also be made available to Tairāwhiti residents, existing shareholders in Waiapu Investments and others closely associated with the business.
There is currently no public pool of shares available in the offer.
Rua Bioscience aims to raise up to $20m in new capital through the initial public offering, giving it an implied value of $70m.
The company is selling 40 million shares at 50 cents per…