Canadian-based Aurora Cannabis Inc. (NYSE: ACB) said that its shares have been approved for listing on the New York Stock Exchange (NYSE: ICE), and will begin trading at the open of markets, October 23, 2018.
Aurora’s shares will trade on the NYSE using the ticker symbol “ACB”, which is the same symbol the company uses when it trades on the Toronto Stock Exchange. In a statement, the company said that the existing shares of Aurora, which previously traded on the OTCQX under the ticker symbol “ACBFF”, will now trade on the NYSE.
“Our NYSE listing represents another important milestone that reflects our commitment to all stakeholders as we continue advancing domestic and international growth initiatives, which includes expanding our base of global institutional and retail investors,” said Terry Booth, CEO of Aurora. “Aurora has rapidly developed into a globally mature organization with industry leading and technologically advanced production facilities available to produce at an unprecedented scale to meet the growing demand for high-quality cannabis both in Canada and abroad. We are also uniquely committed to leveraging our deep knowledge base to further scientific research into medical applications of cannabis, and developing novel, higher-margin product offerings that strongly differentiate Aurora from our competition.”
Aurora will voluntarily delist its shares from the OTCQX and shareholders will not be required to take any actions. The company did suggest that shareholders make sure that their brokerages make the change.
Aurora joins other Canadian cannabis companies that have been given the green light to list on the venerable stock trading institution. Canopy Growth (CGC) listed its stock earlier this year but wasn’t allowed to ring the Exchange’s opening bell – an honor normally bestowed on new members of the family.
Other companies like the REIT Innovative Industrial Properties (NYSE: IIPR), 22nd Century Group (NYSE: XXII) and India Globalization (NYSE: IGC), as well as a few others, have been trading on the NYSE. These companies didn’t actually grow cannabis or process it. In fact, 22nd Century is really a tobacco company and India Globalization has only talked about making cannabis products. IIPR is a real estate company that rents to cannabis companies.
Mr. Booth added: “I sincerely appreciate and wish to thank our entire global team for their remarkable execution, dedication, passion and hard work that went into making this significant achievement a reality for Aurora.”