STORY: Successful IPO for the cannabis supplier Cantourage on Friday in Frankfurt. The shares were listed at EUR 6.48 in the Open Market segment “Scale” and then rose to EUR 14.00. Based on a previous off-exchange sale of shares, the company value is in the high double-digit million euro range. The money from the private placement will be used to expand the business in light of the upcoming legalization of cannabis in Germany and other European countries. Florian Holzapfel, co-founder of Cantourage and member of the supervisory board: “I think that’s what we see here. It has great potential in various medical areas. And then it’s also the case that the reality is that it’s on the order of ten percent of people in Germany regularly use cannabis, currently illegally. And we are convinced that it is much better to have this market legal. With all the risks. But in the end we believe that it is better here not to drive people into illegality.” The company offers various medical cannabis products and has been operating a cannabis clinic in the UK since this year. Founded in 2019, Cantourage is targeting sales of €15 million in 2022, three times the previous year.