STENOCARE A/S approved for listing on Spotlight

Report this content

The Danish company STENOCARE A/S was founded in 2017 with a mission to help patients in pain to a better quality of life. STENOCARE is a medical company within herbal medicines. The main purpose of the listing on Spotlight is to finance its planned growth, which includes the establishment of a production facility to cultivate and manufacture its own finished herbal medicine products for patients in Denmark and Europe.

A four-year trial program (approved by the Danish medicine Agency) has made it legal for all physicians in Denmark to prescribe medical cannabis to all patients and STENOCARE is a first-mover under this program. STENOCARE was the first company to obtain all Danish Medicines Agency (DMA) licenses for growing, producing, manufacturing, importing and distributing medical cannabis. STENOCARE currently imports three products from its Canadian partner, CannTrust [TSX: TRST]. Products are available at scale.

The initial business and revenue model is to distribute imported medical cannabis via pharmacies and hospitals in Denmark. In addition, STENOCARE will develop a separate production facility for the cultivation and production of medical cannabis at the Company’s premises in Jutland, Denmark to service both the domestic market as well as wider European markets.

STENOCARE A/S has been approved for listing at Spotlight Stock Market (Danish company and Danish kroner). As a condition for the approval, at least 60 percent of the issue shall be subscribed. This matches the pre-subscription already secured by the Company. Also, Spotlight’s ownership spread requirements must be met.

The memorandum will be available at from the beginning of the subscription period.  

The offer in summary:
Subscription price in the new share issue: DKK 8,80 per share
Subscription period: 24 September to 9 October 2018
New share issue volume: Up to 18 594 400 DKK
Valuation: The company is valued pre-money at 59,7 MDKK
Expected first day of trading: 26 October 2018 under the ticker name STENO

For more information, please contact:
Christina Ploom
COO and Head of Market Surveillance, Spotlight Stock Market
+46 8 511 680 18