Peter Max
- CEO Partner
Transaction Description
Gemstone acted as financial advisor in Stenocare’s IPO (Initial Public Offering). Stenocare was approved for listing on Spotlight Stock Market and announced that the subscription in the Company’s share issue of approx. DKK 18.6 million was commenced on Monday, the 24th of September 2018. The main purpose of the new share issue was to finance the Company’s planned growth, which included the establishment of a production facility to cultivate and manufacture its own finished medical cannabis products for patients in Denmark and Europe. On October 9, 2018, the subscription period of Stenocare’s new share issue of a maximum of approx. DKK 18.6 million prior to listing on Spotlight Stock Market was completed. STENOCARE received subscription for a total of approx. DKK 402 million, including subscription commitments, from a total of 11,812 subscribers. This corresponds to a total subscription ratio of approx. 2,161 percent, and a subscription ratio of the public part of the share issue, i.e. the part that was not pre-subscribed, of approx. 5,281 percent. Through the new share issue, Stenocare received approx. 2,100 new shareholders. Due to the extensive interest, allotment toke place by random selection (i.e. lottery) in accordance with the allocation principles stated in the memorandum.
Contact Person
Company Description
Stenocare is a Danish pharmaceutical company founded in 2017. Already the following year, Stenocare became the first Danish company to obtain permits to cultivate, import, and handle medical cannabis oils in the Danish pilot Programme. Simoultaneously, Stenocare is the first Danish company to have obtained approval for medical oil-based cannabis products for the Danish pilot Programme. Today, Stenocare operates in Denmark, Sweden, Norway, Germany, the UK, and Australia.
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