Oakland Pot IPO?
Oakland pot-growing supplier talking about IPO.
DALY CITY, CA - APRIL 18: Leaves of a mature marijuana plant are seenin a display at The International Cannabis and Hemp Expo April 18, 2010 at the Cow Palace in Daly City, California. The two day Cannabis and Hemp Expo features speakers, retailers selling medical marijuana smoking paraphernalia and a special tent available for medical marijuana card holders to smoke their medicine. Voters in California will consider a measure on the November general election ballot that could make the State the first in the nation to legalize the growing of a limited amount of marijuana for private use. (Photo by Justin Sullivan/Getty Images)
Updated at 9:59 AM PST on Thursday, Mar 10, 2011
A Bay Area company is talking about a pot IPO according to the Bloomberg.
Grow-Op Technology Ltd. sells lights, humidifiers and other supplies used to grow marijuana. It along with General Cannabis Inc. in Costa Mesa are planning initial public offerings. They say the moves will help remove the stigma from a multibillion-dollar industry.
Grow-Op has not filed the paperwork to go public, but its owner says the IPO will happen this year.
While growing marijuana is against federal law, 15 states have legalized medical marijuana.