Cannabis company that DEA is allowing to grow for research purposes to list shares on Nasdaq

Bright Green Corp. plans to trade on the Nasdaq in a direct listing of its shares

Bright Green Corp., a Fort Lauderdale, Fla.-based company with conditional approval from the U.S. Drug Enforcement Administration (DEA) to produce federally legal cannabis, on Tuesday filed plans to directly list its shares for trading on the Nasdaq under the ticker symbol “BGXX”.

Bright Green Corp. disclosed 157.6 million shares of stock held privately by 425 stockholders of record as of Feb. 28. Based on a price of $4 a share in a private stock sale in January, the company’s current valuation is about $630 million, which would make it larger than many U.S. cannabis companies that trade on the Canadian Securities Exchange and the OTC market.