South African cannabis firm wins Malaysian backer in new listing bid FMTNews FMTBusiness
ALPS Global Holding Bhd and Cilo Cybin Holdings Ltd plan to list a medical cannabis-focused special purpose acquisition company in Johannesburg by mid-year.
ALPS Global will underwrite a Cilo Cybin special purpose acquisition company with 54 million rand and take a majority stake in the Pretoria-based company with the aim of listing it in Johannesburg by mid-year. “Following that, we plan a second raise in dollars, tapping into the ALPS network in Malaysia and Singapore,” he said.
Its initial attempt to list failed after capital raising was slower than anticipated and negotiations then began with ALPS, which says it’s valued at about $1.3 billion.
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