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German Cannabis Firm Cantourage Surges More Than 130% on Debut

  • Firm listed under the ticker symbol ‘HIGH’, freefloat 15%
  • German market potential is €7 billion after weed legalization
A cannabis plant.
A cannabis plant.Photographer: Juan Cristobal Cobo/Bloomberg

German cannabis firm Cantourage Group SE jumped more than 130% on its first day of trading, making it one of the few and most successful IPOs this year in an otherwise anemic market.

“We are Cantourage and we love cannabis,” co-founder Florian Holzapfel said when ringing the bell on Friday morning, adding the firm is happy to say ‘HIGH’, also the firm’s ticker symbol, to the Frankfurt stock exchange. Shares traded at €15 at 1 p.m.