StockMarketWire.com - AIM-listed Surgical Innovations Group is seeking to raise at least £1.8m from a share placement.

The fundraising will see shares sold at 1.6p per share, a discount of 11.1% to the closing price on 16 September. The company plans to issue 157.5m new shares.

The cash raised will allow Surgical Innovations to benefit from organic growth opportunities, it said, while also strengthening its balance sheet.

Revenues have recovered in the third quarter, the company said, and it expected an increase in levels of elective surgery from healthcare providers in the UK and overseas.




At 9:33am: [LON:SUN] Surgical Innovations Group PLC share price was -0.15p at 1.65p



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