Aurora Cannabis planning US stock listing next month

  • Aurora Cannabis is planning to list its shares on a major U.S. stock exchange next month.
  • "Aurora is targeting the month of October to establish a U.S. listing," a company spokesperson said in an email to CNBC Thursday.

The frenzy for pot stocks may expand in October as another Canadian company plans to be dual-listed.

Aurora Cannabis said it is planning to list its shares on a major U.S. stock exchange next month.

"Aurora is targeting the month of October to establish a U.S. listing," a company spokesperson said in an email to CNBC Thursday.

The news was first reported by the Financial Post on Tuesday.

Aurora's chief corporate officer Cam Battley told the media outlet a new listing will expand the potential investor base for the company to include U.S. institutional investors.

Aurora is currently listed on the Toronto Stock Exchange.

A U.S. dual listing for Aurora would follow Canadian marijuana company Tilray's successful July IPO on the Nasdaq.

On Wednesday, shares of Tilray rose 38 percent after CEO Brendan Kennedy told CNBC's Jim Cramer that global pharmaceutical companies must think about partnering with cannabis producers as a "hedge" against the space. Tilray's stock is up more than 1,100 percent since its July IPO and nearly 500 percent over the past month through Wednesday.

Earlier this week, shares of Aurora rose due to speculation about a major beverage company partnership even though the pot company said there's no agreement.

— CNBC's Aditi Roy contributed to this report.

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