RUA BIOSCIENCES ( Hikurangi)

[baaantom]

All information here: https://app.companiesoffice.govt.nz/...60185980847251

Excellent, cheers.

[Joshuatree]

Looks very promising especially for the locals, great to hear, heres hoping it thrives for them.

“Listing on the NZX later this week will be a special milestone for Rua, its people, investors and the East Coast community and we look forward to the journey ahead.”

New Zealand Pharmaceutical company, Rua Bioscience has closed its Initial Public Offering and has successfully raised $20 million from a combination of retail investors and a small number of New Zealand institutions.
The company has confirmed its Priority and Broker Offers were well oversubscribed, ahead of its planned listing on the NZX this Thursday.
This has meant that most applicants into the Offer are likely to have their applications scaled to some degree.
A Priority Offer was made available to Tairāwhiti residents, existing shareholders in Waiapu Investments Limited and other people closely associated with the business. The remaining shares were offered through a number of broking firms.
Shares will be allotted on Wednesday 21 October and Trading is expected to open at 11:00am on Thursday 22 October.
Rua Bioscience Chair Trevor Burt says the level of interest in the Offer reaffirms the confidence of the investor community in Rua’s focussed export-led strategy, clear path to revenue and proven ability to execute on its strategy.
“This is an exciting sunrise industry. We have the advantage in New Zealand of our medicinal cannabis industry being at the leading edge, not the bleeding edge so we can learn from the more mature markets, while drawing on New Zealand’s horticultural heritage in developing valuable plant genetics IP. This will underpin Rua’s ability over time to develop diverse revenue streams along the value chain from plant genetics and agritech to the development and international sale of pharmaceutical grade cannabis products.

[peat]

the three year-old company has yet to sell any dried cannabis flowers or secure a cultivation licence, and that there is not enough information about its main distribution agreement with German firm Nimbus.


Potential new investors are not in a position to evaluate the revenue or margin those sales might generate and there are no financial forecasts of any sort in the product disclosure statement.

[Joshuatree]

A longer term story if one wants to go along for the ride.
Heres the crowd funded one from green fern ,they are throwing big 2022 carrots in there. The REEferendum will help both if its positive

Greenfern Industries Updated Information Memorandum

[youngatheart]

Are shares available from tomorrow?

[peat]

Offer Timetable

• Priority and Broker Firm Offer opens - 5 October 2020
  
• Priority Offer closes - 13 October 2020
  
• Broker Firm offer closes - 16 October 2020
  
• Settlement and allotment - 21 October 2020
  
• Expected date of quotation & trading on NZX Main Board - 22 October 2020

All dates mentioned in this release are indicative only and are subject to change.

[nztx]

Any guesses on what RUA will list at & reach tomorrow ?

[peat]

it would be great to see an exciting IPO. but I've not invested. Way too risky for me.
I cant understand why they have so explicitly ruled out the recreational market but they have. Possibly there is only real money to be made under the guise of health. well mantle if not guise.
They have stated they will lose money for two years and havent even got a product yet , estimated 1st half ' 21, so lets say August 2021 before any real revenue.
But because cannabis is popular with investors at the moment and probably even more because that other cannabis company had their share price shoot up to crazy levels this will go pretty well I reckon.
I'll punt that it will go to 78 on IPO day

[DownTownJr]

CBD hype + Sharesies is sure to see this stock pump today, but I'm sure it will be met equally with a massive dump. Some quick gains for those who got in early. I do not hold any shares and am not interested in taking a gamble on this one. I don't see how they can be profitable.

[Curly]

High bid .64