Medicinal cannabis firm buoyed by London stock market debut

Israeli company Kanabo sees shares almost quadruple as it raises 6m for insomnia treatment

Shares in a medicinal cannabis company, referred to as the cannabis Nespresso", almost quadrupled in value on their trading debut on the London Stock Exchange on Tuesday as investors scrambled to buy into the wellness weed" market.

Kanabo, an Israeli company that makes vaporised marijuana pods, saw its shares rise more than 292% to close at 18.5p. The shares, which launched at 4.75p, hit a high of 20.5p earlier in the day.