Sundial Growers Inc. is searching for to turn out to be the following Canadian cannabis firm to promote shares first within the U.S., following the course forged final Twelve months by Tilray Inc.

Sundial Growers filed paperwork with regulators to record on the Nasdaq World Do away with Market beneath ticker symbol SNDL, the Calgary-essentially essentially based company said Friday in a assertion. Cowen and Co. and Bank of Montreal’s BMO Capital Markets are leading the preliminary public offering, and Barclays Plc is also fervent. Terms weren’t disclosed in its preliminary filing.

Sundial Growers produces and sells cannabis products in Canada and has agreements with 5 provincial regulators to build retailers, per a July 5 filing. The company said it plans to enter the realm cannabidiol market with this month’s acquisition of Bridge Farm within the U. K. Sundial Growers has 5 services and products: two in Alberta, Canada, and three within the U.K. The company is constructing a third Canadian facility in British Columbia.

Tilray changed into the first cannabis firm to change on a U.S. alternate and not utilizing a itemizing in Canada a Twelve months ago after promoting shares for US$17 each and each on Nasdaq. Shares of the Nanaimo, B.C.-essentially essentially based firm closed Friday at US$46.98, making Tilray one of many absolute top publicly traded cannabis firms with a market mark of US$4.6 billion.

Cronos Team Inc. used to be the first Canadian pot firm to record on a U.S. Alternate, in February 2018, but its shares had been already trading in Canada.

Bloomberg.com

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