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Beckham-backed Cellular Goods opens IPO floodgates in lively month for markets


Cannabis firm Cellular Goods PLC has announced its IPO plans in a lively time for markets.

The pure-play consumer CBD brands business, which is understood to be backed by David Beckham’s DB Ventures, looks to raise GBP8mln on its debut for a market capitalisation of GBP20mln.

READ: Cannabis, auctions, digital assets and renewables companies line up for London IPOs

Remaining in the sector, cannabis-focused biotech MGC Pharmaceuticals, which is already listed in Australia, said on Monday that it expects to complete its dual listing this month with a GBP5mln fundraise.

Another four private firms have revealed plans to float on the London market this week alone.

Investment trust Digital 9 Infrastructure plc looks to raise a whopping GBP400mln to invest in assets that can deliver reliable internet, while fellow investor NextEnergy Renewables Limited is eyeing GBP300mln to snap up new opportunities in the energy transition space.

Also an investor, Great Point Entertainment Income Trust PLC is seeking GBP200mln to create a portfolio of senior loans with counterparties in the TV and film production sector, such as traditional broadcasters BBC, ITV, Sky and Channel 4 and online giants Netflix and Amazon Prime Video.

Meanwhile, arts & antique auctioneer Auction Technology Group is also considering a main market listing to support expansion plans and increase brand awareness to consumers and auctioneers. The online marketplace yet has to announce pricing details.

Moonpig Group Plc, meanwhile, rocketed after pricing its shares at 350p a pop before admission. They now trade at 431.3p giving the online greeting cards retailer a market capitalisation of GBP1.48bn.

In a very busy first week of February, Dr Martens PLC (LON:DOCS) marked its first day of trading after an eight times oversubscribed fundraise that valued the bootmaker GBP3.7bn.

Batteries and vapes supplier Supreme Ltd (LON:SUP) has just started tradingon the junior market and will soon be joined by life sciences group 4basebio UK Societas and Virgin Wines, which has reportedly hired an investment bank ahead of a GBP100mln stock market debut.

“The capital markets have been a fertile source of finance for businesses of all sizes over the last 12 months,” said Christopher Raggett, co-head of corporate finance at broker finnCap (LON:FCAP).

“We expect to see more IPOs in the early part of this year as entrepreneurs from businesses of all sizes take advantage of the ability to fuel their growth in a supportive environment.”

US January jobs data the big draw on an otherwise quiet Friday

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