KUALA LUMPUR (July 1): Eye specialist service provider Optimax Holdings Bhd said it has obtained Bursa Malaysia Securities Bhd’s approval to proceed with its plan to list on the ACE Market.
In a statement, the company said its initial public offering (IPO) comprises a public issue of 70 million shares including 13.5 million shares that will be made available to the Malaysian public, and four million shares to eligible employees and directors.
The remaining 52.5 million shares will be allocated to Malaysian institutions and selected investors.
Optimax chief executive officer (CEO) Sandy Tan said the move to tap into the capital market will not only enhance the company’s corporate profile and reputation, but also raise funds for capital expenditure.
“This milestone for the company marks the beginning of a new phase of business expansion for Optimax, as we proceed towards listing on Bursa Securities. It is a testament to the diligent efforts of the team here at Optimax that the group has come thus far,’ she said.
Tan said the company will continue to review its business performance and financial position when deciding on expansion plans including the normalisation of its business operations after the relaxation of the Movement Control Order, as well as ensuring adequacy of working capital for its operations.
Optimax, through its group of subsidiaries, is principally involved in the provision of eyes specialist services and offers a range of services with in-house expertise in medical ophthalmology at its specialist centres.
It provides treatments relating to eye and vision difficulties or impairment covering refractive error, cataract, glaucoma, macular degeneration, diabetic retinopathy, and other eye diseases and disorders.
Established in 1995, the company started with its first specialist centre in Taman Tun Dr Ismail. Since then, it has expanded to a chain of 13 centres across Malaysia including one specialist hospital, 11 ambulatory care centres and one specialist clinic.
Affin Hwang Investment Bank Bhd is Optimax’s sole placement agent and sponsor for the IPO.