With the JSE planned to be the primary bourse, the company is considering Europe for secondary listing.
Cilo Cybin Pharmaceutical, the first local company to be certified by the South African Health Products Regulatory Authority (SAHPRA) to grow, process and package cannabis products in South Africa is planning on going public in a dual listing over the coming 12 months. According to its founder and CEO Gabriel Theron, the firm will now be able to produce and sell its products across the world, following the receipt of the required certification from SAHPRA. “We are planning a dual listing with the main board being the JSE, and we are thinking Luxembourg possibly for a secondary listing or another bourse in Europe,” said Theron. To date, the country has awarded 28 cannabis licenses as it looks to keep pace with other countries that have legalised usage.
Founded in 2018, Cilo Cybin obtained its cultivation license in 2020. The recent green light it received “to manufacture and further grow and process cannabis for the end consumer”, makes it the first company to have both licenses locally. In a televised interview with local news channel eNCA, Theron highlighted that the company’s immediate focus is to get cannabis products to consumers through prescription-based methods following consultations with the local regulator. However, there are several ambitious plans in the works for the Centurion-based firm, including the introduction of a specific health device that consumers can use to monitor their own health later in the year. In addition to planning on launching a tele-medicinal portal, the company has also applied for a research permit to work with psychedelics.