CS MEDICA A/S Plans Spin-Off and Listing of CANNORDIC A/S

CS MEDICA A/S, a leading MedTech firm specializing in medical devices with bioactive CBD, has announced plans to spin off and list its subsidiary, CANNORDIC A/S, on the German Stock Market. The company aims for a preliminary valuation of CANNORDIC at MDKK 224 with expectations to raise up to MDKK 45 during the pre-IPO phase.

The company's board, under ISIN DK0061668225, has approved the spin-off, targeting an initial public offering (IPO) by the end of 2024. Up to 20% of CANNORDIC shares will be offered to institutional investors. The strategy aims to enhance market positioning and value for both entities while securing essential growth capital.

"This spin-off underscores our commitment to market opportunities and compliance with the new EU MDR," said Lone Henriksen, CEO of CS MEDICA A/S.