From left: Sadec Corporate Advisory Sdn Bhd Executive Director ( Capital Markets) Datuk Mohd Effendi Abdullah, Topvision Eye Specialist Bhd visiting consultant Dr Angela Loo, Topvision CEO/executive director Kenny Liew, Topvision medical director/executive director Dr Peter Chong, Topvision independent non executive director Yvonne Lee and Topvision COO Carolyn Soong at the listing ceremony.
KUALA LUMPUR: Topvision Eye Specialist Bhd
made a sterling debut on the Leap Market of Bursa Malaysia amid weak overall market sentiment with more than 27% premium over its initial public offering (IPO) price 18 sen.
The medical eye care provider’s opened at 23 sen with an opening volume of 130,000 shares.
“The listing on the Leap market of Bursa Malaysia will inevitably take the group to the next level, boosting its confidence to seize more opportunities ahead in the eye care industry.
“We are overwhelmed with the response from high net worth investors, who believe in our business that started with humble beginnings eight years ago,” founder and executive director Kenny Liew said in a statement.
The group aims to raise RM12.02mil in gross proceeds, primarily to fund the setting up of an international eye treatment facility to be known as Topvision International Eye Specialist Centre (TVIESC) in the Klang Valley and establishing ambulatory care centres in the southern region.
Of the RM12.02mil gross proceeds, RM10mil will be utilised to build TVIESC and set up two ambulatory care centres in the southern region.
The setting up of TVIESC is slated to begin in the fourth quarter of 2018 and would cater to international patients, particularly the Indonesian market. The group is also allocating RM1.02mil for working capital and approximately RM1.008mil for listing expenses.
“Upon opening its doors to the public, TVIESC is expected to see an influx in the number of Indonesian patients, as the group is in the midst of negotiating with Indonesian partners to set up Regional Marketing Offices in Palembang, Medan and Jakarta,” Liew said, adding that the offices would strengthen its market presence in Indonesia and facilitate greater marketing and promotional activities to attract customers from the country.”
Sadec Corporate Advisory Sdn Bhd is the approved adviser, placement agent for Topvision’s listing, and its continuing adviser.
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