Eye specialist Optimax debuts on ACE Market

Tan (middle), Sandy (second right) and other directors from Optimax are seen during the eye specialist service provider’s listing on the ACE Market today.

KUCHING: Optimax Holdings Bhd (Optimax), an established private eye specialist service provider, which saw its initial public offering (IPO) shares reserved for the public oversubscribed by 82.07 times, made its official debut on the ACE Market of Bursa Malaysia Securities Bhd today.

According to chief executive officer Sandy Tan, at the listing ceremony, this marked the first step in getting investors to know its business better since it began operating its first eye specialist clinic in Taman Tun Dr Ismail in 1995.

“Getting Optimax to its current status as a trusted brand name in the industry has taken a lot of hard work and dedication from those who laid the foundations in the early years,” she said, thanking Optimax’s founder, Tan Sri Tan Boon Hock, as well as the team, for their hard work and dedication.

The company’s IPO has been very favourable, with the portion of the IPO shares made available to the Malaysian public comprising 13.50 million shares oversubscribed by 82.07 times.

The response has also been positive for the 4.00 million shares made available for application by the eligible directors and employees of Optimax and the 52.50 million shares by way of private placement to Malaysian institutional and selected investors.

Optimax plans to use 49.31 per cent or RM10.354 million of the RM21 million raised through the IPO for capital expenditure, 16.76 per cent or RM3.520 million for repayment of borrowings, 16.79 per cent or RM3.526 million for working capital and 17.14% or RM3.60 million for listing expenses.

Sandy said Optimax plans to address the needs of the urban communities of the central region of Peninsular Malaysia by expanding its ambulatory care centre network through converting the existing Seremban specialist centre to be an ambulatory care centre.

The company will also be upgrading other existing centres by purchasing new equipment that will go towards increasing services and expanding capacity in a step towards increasing its presence in areas with growing as well as ageing populations.

Currently, Optimax has expanded throughout Peninsular Malaysia with a presence in East Malaysia. The Company has 13 eye specialist centres, comprising one specialist hospital, 11 ambulatory care centres and one specialist clinic that are wholly-owned or jointly owned with resident eye surgeons. The team of specialists comprises 18 eye surgeons and 33 optometrists.

“While we have expanded rapidly in recent years, with a number of acquisitions made in the central and southern regions of the peninsula in 2017, the listing of Optimax brings with it the funding to expand our market reach and realise our immediate plans,” Sandy added.

Affin Hwang Investment Bank Bhd is the principal adviser, sole placement agent, sole underwriter and sponsor to Optimax in relation to its IPO.

Sumber: Borneo Post Online

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