Medicsight's successful launch on the London Stock Exchange

Tuesday, 30 November 1999 00:00 |

Medicsight Plc announces the first day of successful trading of its ordinary shares on the AIM market of the London Stock Exchange.

Medicsight Plc, industry leader in the development of Computer-Aided Detection (CAD) and image analysis software to assist in the early detection and diagnosis of disease, today announces the first day of trading of its ordinary shares on the AIM market of the London Stock Exchange.

Medicsight at the stock exchange launch

Medicsight team at the stock exchange launch

Admission to trading follows a 'placing of the company's ordinary shares', which raised £32m before expenses at the placing price of £1.10 pence per share. The company will have a market capitalisation of £171m based on the placing price.

Placing and admission statistics

Placing price: 1.10.

Number of placing shares to be issued pursuant to the placing: 29,090,909.

Number of ordinary shares in issue on admission: 155,524,904.

Placing shares as a percentage of the enlarged issued share capital of the company: 18.7 per cent.

Gross proceeds of the placing: £32,000,000.

Estimated net proceeds of the placing receivable by the company: £30,400,000.

Market capitalisation of the company on admission at the placing price: £171,077,395.

As a leading developer of CAD software for the analysis of Computed Tomography (CT) scans, Medicsight helps radiologists to detect and diagnose abnormalities at the earliest possible stage and to monitor them accurately over time.

Medicsight’s CAD software has been validated using one of the world’s largest and most population-diverse databases of verified CT scan data. Medicsight‘s currently marketed products include ColonCAD™ and COLON CAR™, and LungCAD™ and LUNG CAR™ which aid the early detection of colorectal and lung cancer, both with significant global mortality and morbidity.

Commenting on the decision to list the company, David Sumner, Medicsight Chief Executive Officer, says: “We would like to thank our existing and new shareholders for their support. They have recognised the benefits of CAD technology and the substantial opportunities for Medicsight in the medical imaging market. "

Joining AiM will allow us to aggressively drive the sales of Medicsight’s CAD products as well as enabling us to introduce new products to the company’s portfolio through a combination of internal R&D and acquisitions.”

Collins Stewart Europe Limited is acting as nominated adviser and broker. The market epic code is MDST.