Cronos stock is in the green today after Cronos Group (TSX:CRON) (NASDAQ:CRON) announced a $20 million AUD initial public offering of its joint venture, Cronos Australia.
Cronos Continuing Australia ExpansionEstablished in 2018, Cronos Australia is a joint venture between Cronos Group and NewSouthern Capital Pty Ltd. The IPO will see 40 million new shares issued at a price of $0.50 AUS, and once completed Cronos will hold a 31% stake in the new entity, which is expected to have an initial market cap of $64.4 million AUD. Cronos stock is trading up slightly today at ...
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