Pot company Aurora Cannabis reportedly planning U.S. stock listing next month

Jason Franson | Bloomberg | Getty Images

An employee tends to marijuana plants at the Aurora Cannabis Inc. facility in Edmonton, Alberta, Canada, on Tuesday, March 6, 2018. 

The Canadian pot stocks frenzy for more dual-listed companies may expand in October.

An Aurora Cannabis executive told the Financial Post Tuesday the company is planning to list its shares on a major U.S. stock exchange next month.

“We’re targeting the month of October to establish a U.S. listing,” Aurora’s chief corporate officer Cam Battley told the media outlet.

Battley said the new listing will expand the potential investor base for the company to include U.S. institutional investors.

Aurora is currently listed on the Toronto Stock Exchange.

A U.S. dual listing for Aurora would follow Canadian marijuana company Tilray’s successful July IPO on the Nasdaq.

On Wednesday, shares of Tilray rose 38 percent after its CEO Brendan Kennedy told CNBC’s Jim Cramer that global pharmaceutical companies must think about with partnering cannabis producers as a “hedge” against the space. Tilray’s stock is up more than 1,100 percent since its July IPO and nearly 500 percent over the past month through Wednesday.

Earlier this week, shares of Aurora rose due to speculation about a major beverage company partnership even though the pot company said there’s no agreement.