KUALA LUMPUR: Topvision Eye Specialist Bhd aims to raise RM17.9 million through the issuance of 54.22 million new shares at 33 cents per share to deliver high-quality eye healthcare across Malaysia.
This move marks a major milestone as it transitions the provider of medical eye care services in Malaysia from the LEAP Market to the ACE Market of Bursa Malaysia Securities Berhad while boosting the company's market visibility.
TOPVISION chif executive officer and executive director Dr. Peter Chong Kuok Siong highlighted the significance of the transition. "Launching this prospectus is a proud moment for TOPVISION as we step into the ACE Market."
"This listing allows us to further expand our services and invest in advanced technologies, all while remaining committed to improving the quality of life for our patients. It's a testament to our dedication to clinical excellence and sustainable growth," he said.
The company plans to allocate RM7.9 million for the establishment of Topvision International Eye Specialist Centre in Klang Valley, while another RM5 million will be put in for expanding its network to new locations in Kuala Terengganu and Tawau.
Meanwhile, RM0.5 million will be used to upgrade medical equipment while the rest will go to cover the listing expenses.
The IPO reflects growing confidence in Malaysia's medical eye care industry, which is projected to grow at a compound annual growth rate (CAGR) of 10 per cent from RM849.50 million in 2024 to RM1.25 billion by 2028.
Hong Leong Investment Bank Bhd (HLIB) is the Principal Adviser, Sponsor, Sole Underwriter, and Sole Bookrunner.