London Stock Exchange welcomes Welsh medical device manufacturer Creo Medical Group’s AIM IPO
- Chepstow-based developer of minimally invasive surgical devices raises £20 million on AIM
- The Rt Hon. Alun Cairns MP, Secretary of State for Wales praises company’s success
- Reinforces UK’s status as a leading global venue for bio-technology and advanced manufacturing company fundraising
London Stock Exchange today welcomes the AIM flotation of Creo Medical Group, a medical device company focused on the emerging field of surgical endoscopy. The Chepstow-based company raised £20 million on admission, with a market capitalisation of approximately £61 million. The company has been supported by Finance Wales, who have an equity stake in the company.
The company is the latest to join more than 40 bio-technology companies with a combined market capitalisation of almost £9 billion quoted on London Stock Exchange underlining the UK’s ability to develop, fund and support high growth companies in the sector. Welsh companies have made a significant impact on AIM this year with Bangor-based construction firm Watkin Jones raising £131m earlier this year, making it the largest AIM fundraising in two years. London Stock Exchange’s annual publication 1000 Companies to Inspire Britain also reported a 38% increase in the number of high growth Welsh companies growing in the region.
To celebrate the listing, Craig Gulliford, CEO, Creo Medical Group and staff from the company took part in a special welcome ceremony at London Stock Exchange this morning.
The Rt Hon. Alun Cairns MP, Secretary of State for Wales said:
“I am delighted to congratulate the Welsh based company, Creo Medical Group on their success. Wales’ economy continues to go from strength to strength and it is great to see such a cutting edge and innovative business in Wales achieving such growth. Their ambitions are an inspiration for other companies across Wales and send a strong message that there are great opportunities in Wales for businesses to flourish.”
Craig Gulliford, Chief Executive Officer of Creo, said:
“We are very excited to have received such strong support from UK and European investors in raising £20 million. The AIM market in London has allowed us to attract the type of long-term institutional investors whose outlook fits nicely with our vision for the growth of the Company and execution of our business model. London is a great market and we believe the AIM market is an excellent platform from which we will continue to build a leading British medical device company.
“We are dedicated to improving patient outcomes by bringing advanced energy to the emerging field of surgical endoscopy and with the proceeds raised from the IPO, we can complete the development of our lead products and advance our other products. Our journey as a public company begins today and we are excited for the Company’s future prospects.”
Emma Titmus, Business Development Manager, London Stock Exchange said:
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Notes to editors:
For more information about Creo Medical Group: http://creomedical.com/
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