David Beckham, seen here with wife Victoria, had a 5% stake in Cellular Goods through his DB Ventures firm ahead of the IPOA cannabis venture, which counts David Beckham among its investors, has seen its share price rise more than four-fold during its London stock market debut.
Cellular Goods, which wants to sell skincare and topical creams using biosynthetic cannabinoids, saw shares climb from their offer price of 5p to above 20p when the opening price was declared on Friday. The flotation, which was 13-times oversubscribed, was aimed at raising £13m for development work and expansion after City rules were changed last year to allow cannabis-linked listings for medicinal ventures.The company's products are to be derived from cannabinoids manufactured in labs rather than plantsto take advantage of the relaxation of the criteria through the Initial Public Offering .
The surge in value of the stock on Friday left Cellular's market capitalisation at more than £100m - based on a share price of 20p.
Has he got shares in it.....
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