KUALA LUMPUR: Topvision Eye Specialist Bhd has signed an underwriting agreement with Hong Leong Investment Bank Bhd for its upcoming public offering in conjunction with the transfer of listing from the LEAP Market to the ACE Market of Bursa Malaysia.
Topvision specialises in comprehensive ophthalmic services including cataract surgeries, treatment and management of glaucoma, and treatment and management ofvitreous and retinal diseases.
It was listed on the LEAP Market in 2018 and operates a growing network of ambulatory care centres ("ACCs") across Malaysia.
The company plans to expand to 14 ACCs by next year, including its maiden entry into East Malaysia.
The transfer of listing exercise involves the public issue of 54.22 million new ordinary shares in the company, representing 17.50 per cent of the enlarged issued share capital.
The shares are allocated for institutional offering at 33.93 milliom shares or 10.95 per cent while 20.29 million or 6.55 per cent of the shares are for retail offering.
The proceeds will be primarily used for the establishment of Topvision International Eye Specialist Centre and two new ACCs in Kuala Terengganu and Tawau.
Additionally, the proceeds will be utilised to purchase new medical equipment and cover the estimated expenses for the listing transfer.
"The partnership with HLIB for our listing underscores our commitment to expanding access to high-quality eye care services throughout Malaysia. The funds raised from this public offering will allow us to further enhance our medical technology, expand our network of ACCs, and continue our contributions to the eye care sector," said executive vice chairman Datuk Kenny Liew Hock Nean.