Cilo Cybin fails in bid for JSE listing

Medical cannabis company Cilo Cybin Holdings has failed to raise enough capital through its initial public offering to become the first such business to list a special purpose acquisition company in Africa. The company managed to raise only about R20.5m, much less than the R500m required for a listing on the main board of the JSE or R50m for AltX. Cilo Cybin said it will postpone its aspirations for listing while it focuses on other growth opportunities.