Up to five companies active in the cannabis industry could go public in 2020 in Europe, a continent whose stock markets have largely missed out on the North-American pot stocks frenzy.
This was revealed by insiders at European investment bank, Bryan Garnier.
Bryan Garnier and its competitor Canaccord Genuity are among the few investment houses actively seeking to become key players in the fast-growing cannabis industry and win mandates to advise on merger and acquisitions or rights issues.
News agency Reuters, says the legalization of cannabis, including for recreational use in Canada and a number of U.S. states, fueled a speculative green rush on Toronto and New York stock markets early this year, but this has faltered due to oversupply fears and uncertainties on U.S. regulations.
Shares in the sector are down more than 50% from their March highs.