Creo Medical Group to raise £5.5m and advance partial divestment

Creo Medical Group PLC (AIM:CREO, FRA:1RC, OTC:CMEOF) announced plans to raise approximately £5.5 million through a placing as the medical device company moves to strengthen its balance sheet while pursuing the sale of its remaining stake in Creo Medical Europe. The AIM-listed group said it intends to issue around 36.7 million new shares at 15p each, a 31.9% premium to Thursday's closing mid-market price of 11.4p.