Profil:
Creotech Instruments SACreotech Instruments wants to spin off quantum segment into new company and list it on WSE
Listed spacetech company Creotech Instruments has started the process of demerging the company by spinning off the quantum systems segment into a new company, Creotech Instruments said in a press release. The quantum company is expected to go public on the WSE, and the estimated date for concluding the spinoff is late 2025/early 2026.
"We want the Creotech Instruments company to focus on satellite systems, where we already have a solid backlog, and the development trajectory achieved is extremely promising. At the same time, a new company will be created to focus on the development and commercialisation of quantum systems so far developed at Creotech," said the company's CEO Grzegorz Bron, quoted in the press release.
"Spinning off the quantum segment into a separate company will allow us to better expose the potential of this area and make it easier for our shareholders to extract its value, while at the same time taking advantage of the business opportunity to realise the huge potential of quantum systems," he added.
Creotech Instruments said that the quantum systems segment remains at an earlier stage of development (approximately 24-30 months) compared to the space projects segment based on the HyperSat platform, for the sale of which the company has recently secured two major contracts: Microglob and Camila.
The CEO reported that the company is currently pursuing major development programmes within the quantum segment, which are expected to be completed between 2026 and 2027.
As part of the spinoff, Creotech Instruments shareholders will be allocated shares in the new quantum company in proportion to their holdings. The allocation of shares will take place through a public offering of shares.
Creotech said that one of the objectives of the spinoff is to enable the quantum company to raise additional funding, including through grants earmarked for SMEs, which may no longer be available to the company in the near future given its rapid growth.
"In addition, the quantum systems segment generates costs, the spinoff of which will allow the company to consolidate its position as a company with positive profitability," the company said in the press release.
Creotech reported that, assuming the prospectus procedure before Poland's financial market regulator KNF and the receival of all corporate approvals proceeds without delay and the spinoff proposal receives the approval of the shareholders, the company's intention is for the spinoff to be finalised in late 2025/early 2026.
seb/ ao/
