SEATTLE (AP) — A Canadian company is the first marijuana business to complete an initial public offering on a major U.S. stock exchange, raising $153 million to expand its operations as Canada prepares to legalize the drug nationwide.

British Columbia-based Tilray Inc.'s shares began trading Thursday on the Nasdaq stock exchange. Initially priced at $17, the stock quickly jumped, closing for the day at $22.55 - up about one-third.

Tilray isn't the first pot company to trade on a major American stock exchange, but it is the first to do so with an IPO, a step that could boost credibility and con...