One of Wales' leading medical devices company, Creo Medical, has raised over £33m following two share offerings which will fund its continued global expansion. The Chepstow-based Alternative Investment Market listed firm announced last month that it was looking to raise a minimum of £25m via a conditional placing and subscription of new ordinary shares and a further £5.2m through an open offer.
The company closed its first share offering having raised £28.5m. Now, the company has announced that it has also raised the further £5.2m, taking the total fundraise to £33.7m and exceeding its original target by more than £3m.
Joint brokers Cenkos and Numis led the fundraiser. In January, Proactive research analyst John Savin put £100m valuation on Creo in a research note on the group but added that Creo could be worth up to between £200-£250m.
