LONDON - Creo Medical Group plc (AIM:CREO) announced a proposed placing to raise approximately £5.5 million before expenses via the issuance of roughly 36.7 million new ordinary shares.
The issue price of 15 pence per share represents a premium of about 31.9% to the closing price of 11.4 pence on Wednesday. The placing shares will account for around 8.9% of existing issued share capital.
Certain directors intend to subscribe for approximately £2.15 million in the placing. Shore Capital Stockbrokers Limited is acting as sole bookrunner.
The company also entered a non-binding agreement regarding the potential sale of its entire 49% stake in Creo Medical Europe S.L. on a cash-free, debt-free basis.
Additionally, a conditional subscription for £2 million of loan notes by Development Bank of Wales was announced. The funds will support growth and commercial momentum while seeking to complete the stake disposal.
First-quarter 2026 revenue grew about 60% year-on-year, with full-year 2026 revenue growth now expected between 50% and 60%.
