Optimax to raise RM21m from ACE Market listing

From left are Optimax Holdings Bhd CEO Sandy Tan; deputy managing director of Affin Hwang Investment Bank Bhd Yip Kit Weng; independent director Datuk Tan Boon Hock; CFO Michelle Tan and senior medical director Dr Stephen Chung.

KUALA LUMPUR: Optimax Holdings Bhd plans to raise RM21mil from its listing on the ACE Market of Bursa Malaysia Securities Bhd.

The private eye specialist service provider had on Wednesday said the initial public offering involved a public issue of 70 million shares at 30 sen each.

Of the 70 million shares, it is offering 13.50 million shares to the public; four million shares for eligible directors and employees while 52.50 million shares would be placed out to Malaysian institutional and selected investors.

Of the RM21mil to be raised from its listing, it will use RM10.35mil or 49.3% for capital expenditure, RM3.52mil (16.7%) to repay borrowings, RM3.53mil (16.7%) as working capital and RM3.60mil (17.1%) as listing expenses.

Optimax CEO Sandy Tan said at the prospectus launch on Wednesday the listing was an important milestone since its founding 25 years ago.

“This journey continues with our plans to expand our ambulatory care centre network in Malaysia, including to areas where we do not have a market presence.”

“For a start, our immediate plans will be to expand our ambulatory care centre network in the central region of Peninsular Malaysia.

“This addresses the potential needs of urban communities in this densely populated region. Part of the proceeds from the IPO will go towards equipping our Seremban specialist centre and purchasing the property to convert this centre to an ambulatory care centre, ” she said.

To date, Optimax has 13 eye specialist centres -- one specialist hospital, 11 ambulatory care centres and one specialist clinic.

These centres are either fully owned or jointly owned with resident eye surgeons. Optimax’s team of specialists comprise 18 eye surgeons and 33 optometrists.

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