Campaign Year: 2017
Campaign Type: AU - IPO
Campaign Duration: 1 day (Equitise allocation filled within hours!)
Amount Invested: A$550,000
Number of investors: 120
Average Investment: A$4,583
% Funded: 100%
The Hydroponics Company Limited (THC) plans to be a worldwide manufacturer of hydroponic equipment, materials and nutrients; large-scale hydroponic greenhouse design and construction; and leader in the development and delivery of medicinal cannabis.
The burgeoning market in North America and liberalised laws surrounding cannabis production have created a high demand for the company’s hydroponic product line. The sector is experiencing significant growth as laws are passed in Australia, New Zealand, US and Canada permitting the possession and consumption of cannabis either for medicinal or recreational purposes.
Investors contributed $550,000 towards the THC IPO through the Equitise crowdfunding platform. These funds, together with THC’s existing cash reserves, were used to complete acquisition and development of the business, provide working capital and to allow for future expansion.
The IPO price was /bin/sh.20 per share. Since listing, the stock has reached a high of $1.15 and is currently $0.58 at the time of writing this article.
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