Medicinal cannabis group Cilo Cybin said on Tuesday it managed to close its initial public offering within record time, raising about R7.1 million or 10% of shares, within a week.
The group opened its IPO on 14 March, expecting it to close on 12 April, but it said it"experienced an unprecedented response," leading to oversubscription and its early closure. A listing date is yet to be announced, but the group has previously said it is eyeing April or May to join the bourse as a special purpose acquisition company .South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.