The Globe and Mail reports in its Friday, July 20, edition that 18 months ago Tilray ($22.39) began weighing a Canadian listing, but shifted its plans last summer after 15 American asset managers told the medical cannabis producer they would be much more compelled to invest if it went public on a major United States exchange (all figures U.S.). The Globe's Christina Pellegrini writes that is what happened this week. On Thursday, Tilray listed its stock on the Nasdaq under the symbol TLRY, becoming the first pot grower to complete an initial public offering in the U.S. It sold nine million shares at $17 apiece in its IPO, raising $153-million and valuing the business at $1.6-billion. High investor demand in the IPO made it possible for Tilray to sell its new stock above its previously disclosed range of $14 to $16. The offering -- which according to an unnamed source was more than 12 times oversubscribed -- was sold to investors mostly in the U.S. They included some unnamed blue-chip mutual funds that had yet to invest in the cannabis industry and whose mandates prevent them from owning stocks listed outside the United States, said Tilray chief executive officer Brendan Kennedy.