16th Oct 2013 09:35
LONDON (Alliance News) - Kromek Group PLC saw its share increase on its first morning trading on AIM, after raising GBP15 million in the initial public offering of 107 million shares.
The x-ray imaging and radiation detection products maker said it will use the proceeds for product development, expansion of its sales and marketing team, investment into its intellectual property portfolio, capital expenditure to support future growth and manufacturing capability, working capital, and strengthening the balance sheet, including paying down outstanding loans.
It said its offering had been oversubscribed. Shares were trading up 6.4% at 58 pence Thursday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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