Cilo Cybin Holdings has made history by becoming the first cannabis company to receive approval for a listing on the Johannesburg Stock Exchange (JSE). This milestone marks a significant step forward for the cannabis industry in South Africa, opening new opportunities for growth and investment in the burgeoning sector.
The JSE’s approval signals growing acceptance and recognition of the potential of cannabis businesses in mainstream financial markets.
Cilo Cybin Holdings is to be listed on the AltX market of the JSE on Tuesday, 25 June 2024.
Earlier, the company achieved a significant milestone with its Initial Public Offering (IPO), raising R7,101,791, approximately 10% of the total shares available, in record time. With an official closing date of April 12, 2024, the IPO experienced unprecedented demand, leading to oversubscription within a week and an early closure.
The JSE listing approval follows the company’s prospectus approval by the Companies and Intellectual Property Commission (CIPC) on February 26, 2024, and successful funding of $3 million by ALPS Global Holding Berhad (ALPS). Dr. Tham Seng Kong, Group Chief Executive Officer and Group Chief Research Scientist of ALPS, personally invested 50% of the funds, showcasing strong confidence in Cilo Cybin Holdings’ potential.
Gabriel Theron, CEO of Cilo Cybin Holdings, says JSE approval marks the culmination of a challenging yet rewarding journey. “The overwhelming support for and rapid closing of the IPO have paved the way for the company to advance confidently, shaping the future of biotechnology, pharmaceuticals, and AI technology.”
Dr. Tham Seng Kong emphasises the growth potential of Cilo Cybin Holdings, driven by promising market opportunities. “I have the utmost confidence in Cilo Cybin Holdings’ ability to capitalize on these prospects and deliver substantial returns for its stakeholders.”
ALPS, a biotechnology research, medical, and wellness company based in Malaysia, played a crucial role in supporting Cilo Cybin Holdings. ALPS focuses on developing personalized medicine using cutting-edge technologies such as genomics DNA, mRNA, and cellular therapy. The company is currently valued at approximately US$1.6 billion and anticipates further growth with an upcoming Nasdaq listing as ‘Alps Life Science Inc.’
Through an international network of professional providers and supporting services, ALPS’ clientele will access state-of-the-art wellness and anti-aging products. The company is developing in-house laboratories for autologous stem cell production and establishing an international Research and Development Hub.
Highlighting the synergies between ALPS and Cilo Cybin Holdings, Dr. Tham Seng Kong says ALPS promotes collaborative approaches in the life sciences sector. “With its extensive knowledge and expertise, ALPS aims to support Cilo Cybin Holdings in becoming a global leader in developing effective patented medicines. This aligns with Cilo Cybin Holdings’ goal of obtaining revolutionary benefits from the cannabis and psychedelic drugs industry.”
Theron adds that both companies are committed to research and development in the biotech sphere, initially focusing on the cannabis and psychedelic sectors to develop and improve pharmaceuticals while maintaining a strong emphasis on quality.
The SPAC aims to acquire and invest in commercial enterprises operating in the biotech, biohacking, or pharmaceutical sectors. According to Theron, the acquisition of viable assets will be managed by the company, with the Board considering the combined service and product offering. “Our first target company, Cilo Cybin Pharmaceutical (Pty) Ltd, specializes in the Medical Cannabis sector and is licensed to cultivate and manufacture medicines under GMP. The company achieved profitability for the first time since its founding in 2018 and aims to revolutionize the healthcare industry by pursuing licenses to manufacture MDMA, Psilocybin, and LSD products.”
Theron says the initial focus will be on acquiring and investing in companies specializing in cannabis and psychedelic drug cultivation, manufacturing, and distribution. “These companies will develop active pharmaceutical ingredients (APIs) and final product forms to serve the rapidly expanding market for alternative and innovative therapies.”
