Monday 16 Dec 2024
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KUALA LUMPUR (Oct 29): TopVision Eye Specialist Bhd (KL:TOPVISN) has signed an underwriting agreement with Hong Leong Investment Bank Bhd (HLIB) to transfer its listing from the LEAP Market to the ACE Market of Bursa Malaysia.

The medical eye services provider, which received Bursa’s approval for this transfer last month, said the exercise includes a public issuance of 54.22 million new shares, accounting for 17.5% of its enlarged share capital.

The share allocation will feature an institutional offering of approximately 33.93 million shares for institutional and selected investors, along with a retail offering of 20.29 million shares that HLIB will underwrite.

Within the retail offering, about 1.32 million shares are set aside for eligible directors, 2.16 million for eligible employees and 1.33 million for individuals who have contributed to the group's success. Additionally, a total of 7.75 million shares will be allocated to Bumiputera investors, and another 7.75 million shares will be allocated to non-Bumiputera investors.

According to the group's statement, the funds raised from the public offering will primarily support the establishment of the TopVision International Eye Specialist Centre, two new ambulatory care centres (ACCs) in Kuala Terengganu and Tawau, as well as the purchase of new medical equipment.

By next year, the group said it plans to expand its network to 14 ACCs and make its first foray into East 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.

"Having first been listed on the LEAP Market in 2018, TOPVISION is well-positioned for growth, and we believe this transfer listing will provide us with the resources needed to reach new heights, benefiting both our patients and stakeholders,” said TopVision executive chairman Datuk Kenny Liew Hock Nean.

HLIB is the principal adviser, sponsor, sole underwriter and sole bookrunner for the exercise.

Edited ByAdam Akmal Aziz
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