Beckham's cannabis company first to score points in London market

skynews david beckham victoria

Beckham-backed cannabis skin care firm to sell shares on London Stock Exchange

David Beckham has been interested in a number of commercial businesses since his retirement from football, particularly in the cannabis industry. Cellular Goods sold a stake to DB Ventures, the footballer's former investment firm, has reported Sky News, which will announce its intention to list this week.

David Beckam
David Beckam

A cannabinoid firm backed by David Beckham will be the first such firm this week to officially unveil plans to debut on the London Stock Exchange

Sky News can exclusively reveal that Cellular Goods, which makes skin care and sports recovery products from biosynthetic cannabinoids, will announce its intention to go public on Thursday morning.

The company, which is run by Alexis Abraham, has sold a minority stake to DB Ventures, the former Manchester United and England midfielder's arm responsible for managing brands and business ventures, people say close to the situation.

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Beckham is believed to believe that the use of CBD in consumer goods is an attractive growth prospect for his investment portfolio, they added.

Its decision to take a stake in Cellular Goods is likely to spark speculation about a future licensing agreement between them.

Cannabis companies have launched a frantic race to go public in London, following changes announced last year to Financial Conduct Authority rules allowing them to be listed if they have a medical application.

Tags : Stock ExchangestarUK
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