Aurora Cannabis Inc. announced on Oct. 18 that its common shares have been approved for listing on the New York Stock Exchange (NYSE). Trading on the company, listed as “ACB,” will begin Oct. 23 at the open of markets.
The company, headquartered in Edmonton, Alberta, Canada will continue trading on the Toronto Stock Exchange. Aurora operates in 14 countries including Canada and the United States, and has operations in every segment of the chain from facility design, research and cultivation to distribution.
Previously, Aurora traded on the OTCQX market under the ticker symbol “ACBFF” and those existing shares will trade on the NYSE now. The company requests shareholders to monitor that their holdings correctly transfer.
Currently Aurora is trading at about $9.97 in the other exchanges after the news of its acceptance. To get accepted on the NYSE, Aurora had to prove it was not violating any U.S. laws importing cannabis into the country, except under specific circumstances.
Aurora begin NYSE trading a week after Canada legalized cannabis for recreational use, and joins fellow cannabis companies Tilray Inc., Cronos Group Inc. and Canopy Growth Corp. on U.S. exchanges.
“Our NYSE listing represents another important milestone that reflects our commitment to all stakeholders as we continue advancing domestic and international growth initiatives, which includes expanding our base of global institutional and retail investors,” said Terry Booth, CEO of Aurora.
Aurora has a market cap of over $10 billion and recently acquired MedReleaf for $2.5 billion in June. “Aurora has rapidly developed into a globally mature organization with industry leading and technologically advanced production facilities available to produce at unprecedented scale to meet the growing demand for high-quality cannabis both in Canada and abroad. We are also uniquely committed to leveraging our deep knowledge base to further scientific research into medical applications of cannabis, and developing novel, higher-margin product offerings that strongly differentiate Aurora from our competition.