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Aurora Cannabis applies for NYSE listing

Aurora Cannabis Inc. is looking to become the latest medical marijuana company to list its common shares on the New York Stock Exchange.

The Canadian distributor of medical cannabis products expects trading in its common shares on the NYSE to begin before the end of October under the symbol ACB. The listing application remains subject to stock exchange approval, as well as other listing and regulatory requirements.

Canada's Canopy Growth Corp. became the first publicly traded marijuana company to trade on the NYSE in May.

While the company's stock is already listed on the Toronto Stock Exchange, the NYSE listing will improve access and exposure to international institutional investors, Aurora Cannabis CEO Terry Booth said in a news release.

The move underscores the ambitions of a company that has pursued growth through an aggressive M&A strategy, buying more companies than the historically acquisitive pharmaceutical giant Pfizer Inc. in the past two years. An NYSE listing would also add prestige to a burgeoning industry that has seen a surge in IPOs and has attracted the attention of banks, insurers and real estate companies.

The company will voluntarily delist its shares from the OTCQX upon acceptance to the NYSE.