Cellular Goods, a company backed by soccer legend David Beckham, is planning to sell its shares on the London Stock Exchange (LSE).
The cannabis skincare firm uses compounds found in cannabis to make skincare and athletic products. The company has sold a stake to DB Ventures, the former footballer’s investment firm, according to Sky News.
Cellular Goods, which makes its products in labs, rather than from plants, aims to sell products from September 2021, according to its website, which will make it the first firm of its kind to debut on the LSE.
Cannabis companies can list on the LSE so long as they are medicinal said the Financial Conduct Authority (FCA).
“The last few years have seen massive growth and awareness of the importance of wellness and self-care and we believe cannabinoids will prove to be the king of wellness ingredients,” said Cellular Goods chief executive Alexis Abraham.
“The appetite for cannabinoid products is huge and the biosynthetic cannabinoids we will be exclusively using are cleaner, greener, purer, and frankly the future.”
