Hemply Balance’s IPO subscribed to 716 per cent

22 huhtikuuta 2021

Established in 2016, Hemply Balance is the leading CBD brand in Sweden with a fully compliant THC-free product line including intimate, tinctures & topicals. Hemply is at the intersection of two high-growth markets; global CBD and fem care & sexual wellness.

The business model is based on D2C and B2B sales of products to consumers via its own webshop and distributors. Hemply has signed an agreement with Lyko.se for sales and distribution of its intimate product line in Sweden and also to sell the tinctures product line in Germany, the Netherlands, Poland and Austria. The combination of D2C and B2B provides multiple revenue streams and scalability.

The IPO was subscribed to 716 per cent by approximately 1,200 investors. Raised capital, in total SEK 12.5 million, will primarily be used for launching the domestic CBD-intimate line, key hires and marketing activities. First day of trading on NGM Nordic SME is expected to be on 6 May 2021.

Augment acted as the company’s financial adviser in the IPO and acts as its Mentor.

Read the full press release here (in Swedish).