Say Hello to the Largest North American Marijuana Stock IPO

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Say Hello to the Largest North American Marijuana Stock IPO

Flickr / perzonseo.com / CC BY 2.0

Last week, investors witnessed another marijuana first: the largest North American marijuana stock IPO of all-time.

On Tuesday, May 30, Ontario-based MedReleaf (TSX:LEAF), a licensed Canadian medical-marijuana producer and retailer, raised $75 million — $60 million in sales coming from its treasury and $15 million from existing shareholders — by pricing an initial public offering at roughly $7.03 a share (or $9.50 Canadian).

The IPO values MedReleaf at approximately $636 million, making it the largest North American marijuana stock IPO of all time.

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