David Beckham´s cannabis company starts trading

Retired soccer player David Beckham is a supporter of cannabis-based consumer goods company Cellular Goods Plc and it has just launched its IPO on the London Stock Exchange. The company has begun accepting investor orders to go public and the shares are being marketed at 5p apiece, according to a prospectus released Monday. The IPO is expected to raise £ 8 million ($ 11 million). The company intends to use the money to develop products and bring them to market. Cellular Goods, which was founded in 2018, focuses on skin care and topical products for athletic recreation. The products are sold through the company's website and through retailers. Its cannabinoids are made in a laboratory. "There is now a global demand for high quality, sustainable and compliant cannabinoids for consumers," said Chief Executive Officer Alexis Abraham in written comments. Abraham had said the company's attention to going public "has generated significant interest from private investors." Beckham is one of the company's shareholders and has two representatives on the Board of Directors. Medical marijuana has been legal in the UK since 2018. Recreational marijuana is still against the law.