David Beckham-backed cannabis firm on course to become LSE's first CBD listing - CityAM

UK-based Cellular Goods, backed by David Beckham, is seeking a listing on the London Stock Exchange, which would make them the LSE’s first pure-play CBD business. The announcement comes only a day after British pharmaceutical firm GW was sold to US rival Jazz Pharmaceuticals for £5.3b, highlighting a growing investor interest in the cannabinoid industry. Read more: Cambridge cannabis pharma GW sold to US rival in landmark $7bn dealCBD is the medical acronym for cannabidiol, one of the key active compounds or cannabinoids found in cannabis plants. Cellular GoodsCellular Goods, a cannabis product business backed by David Beckham, has sent offers to retail investors and is expected to value at around £20m. As the LSE’s first CBD centred listing, the company appears to be capitalising on the Financial Conduct Authority’s approval of cannabis company floats in September last year.