Althea

Floating medicinal cannabis on the ASX

 

Preparing for medicinal cannabis start-up Althea to list on the ASX.

 

THE CHALLENGE

Medicinal cannabis producer Althea was approaching an IPO on the ASX, but needed significant media cut-through to drive awareness and interest in the listing. We needed to differentiate Althea from other ‘pot stocks’ and showcase why it’s a smart, sustainable, long-term investment opportunity, while laying the new company’s brand foundations.

THE SOLUTION

Drawing on Althea’s patient-centric ethos, we created brand style guides, investor presentations and a business overview for the ASX Prospectus that focused on their mission to improve lives through high-quality products, services and education.

We used consumer and journalist insights to feed into this messaging, which would ultimately be rolled out to patients, doctors and pharmacists.

Working in tandem with legal and broker teams, the media strategy adhered to ASX rules, while maximising impact and targeted investor reach.

THE RESULTS

In total, we achieved 171 news pieces off the back of the ASX listing, across the likes of the Financial Review, The Sydney Morning Herald, The Age, 9 News, Business Insider and Investor Daily. This reached a total audience of 73 million, blitzing the media KPI of 10 pieces.

Overall, our media coverage averaged an 82 out of 100 on the Impact Score, while three quarters of coverage included more than one key message and 94% of coverage was in Tier-One media.

But what about the all-important share price?
As a result of our campaign, Althea tripled its value on its ASX debut, having raised $19.6 million at an issue price of $0.20c per share – a heavily oversubscribed IPO.

Keep Left was also recognised with an award for best practice investor-relations support as a result of the campaign.