A new weed company called The Hydroponics Company is aiming to list on the ASX this April 20 (geddit?), and is using the ticker code THC (GEDDIT?!?!).
Is this a troll? We don’t even know.
The company announced it is undertaking an initial public offering of 25-40 million shares at 20c a share.
“THC’s objective is to be a leading, diversified, worldwide cannabis business focused on the manufacturing and distribution of hydroponics equipment, materials and nutrients; large-scale hydroponic greenhouse design and construction; and the development and delivery of medicinal cannabis,” the company writes on its website.
“We aim to capitalise on the surging global cannabis market, generating significant near term value through our strategic assets, rapidly expanding these core businesses in 2017 and beyond.”
Revenues are expected to increase from +$5m in 2017 to +$15m by 2018, while net profit from the company’s hydroponics division is expected to top $1m.
