KUALA LUMPUR, Nov 25, 2024 – (ACN Newswire) – TOPVISION Eye Specialist Berhad (“TOPVISION” or the “Company”), an experienced player in medical eye care services in Malaysia, is pleased to announce the launch of its prospectus for the upcoming Public Offering in conjunction with TOPVISION’s transfer of listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”), a move that underscores its continuous commitment to delivering high-quality eye healthcare nationwide as well as boosts TOPVISION’s public market visibility.
Group Photo 1 Caption (L-R):
1. Mr. Phang Siew Loong, Head of Equity Markets, Hong Leong Investment Bank Berhad
2. Wendy Teh, Co-head, Corporate Finance, Hong Leong Investment Bank Berhad
3. Mr. Tan Kah Poh, Independent Non-Executive Director, TOPVISION Eye Specialist Berhad
4. Datuk Kenny Liew Hock Nean, Executive Vice Chairman, TOPVISION Eye Specialist Berhad
5. Mr. Lee Geok Ai, Independent Non-Executive Chairman, TOPVISION Eye Specialist Berhad
6. Dr. Peter Chong Kuok Siong, Chief Executive Officer and Executive Director, TOPVISION Eye Specialist Berhad
7. Ms. Lim May Wan, Independent Non-Executive Director, TOPVISION Eye Specialist Berhad
This Public Offering aims to raise RM17.89 million through the issuance of 54.22 million new ordinary shares at a retail price of RM0.33 per share. The funds raised from this exercise will be allocated as follows:
RM7.90 million for the establishment of the TOPVISION International Eye Specialist Centre in Klang Valley, a tertiary eye ambulatory care centre with subspecialty services like retinal surgery, cornea transplants, and paediatric ophthalmology to meet patient needs and elevate eye healthcare standards.
RM5.00 million for expanding the ACC network with new centres in Kuala Terengganu and Tawau, Sabah, expanding TOPVISION’s presence in East Malaysia and enhancing access to quality eye care.
RM0.50 million for purchase of machines, including phacoemulsification machines to improve service quality across TOPVISION’s network.
RM4.50 million for listing expenses for the transfer of listing from the LEAP Market to the ACE Market of Bursa Securities.
Dr. Peter Chong Kuok Siong, Chief Executive Officer and Executive Director of TOPVISION said, “We are thrilled to launch our prospectus, marking TOPVISION’s another milestone in the process of transfer its listing to the ACE Market. This move not only accelerates our growth but underscores our commitment to advancing eye healthcare across Malaysia. With funds raised, we will expand our ACC network, establish TOPVISION International, and invest in new machines, all aimed at enhancing patient care. This listing reflects our dedication to sustainable growth, clinical excellence, and our mission to improve the quality of life for our patients.”
Mr. Phang Siew Loong, Head of Equity Market of Hong Leong Investment Bank Berhad commented, “TOPVISION’s transition to the ACE Market marks a pivotal milestone in its growth journey. We are proud to support TOPVISION as it builds on its strong foundation of clinical excellence and patient-centered care. With this listing, TOPVISION is well-positioned to meet the growing demand for specialised eye care, aligning with Malaysia’s healthcare goals and paving the way for sustainable growth and innovation in the sector.”
The medical eye care industry in Malaysia is projected to grow significantly, with revenue expected to expand at a compound annual growth rate (“CAGR”) of 10.0% from RM849.50 million in 2024 to RM1,249.40 million by 2028. This growth is driven by several key demand and supply factors. On the demand side, factors include steady population growth, an ageing population, increased medical tourism, growing consumer affluence, and a rise in lifestyle-related diseases. Meanwhile, supply-side growth is supported by advancements in medical eye care technology and strong government support.
Hong Leong Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Bookrunner.
Group Photo 2 Caption (L-R):
1. Mr. Phang Siew Loong, Head of Equity Markets, Hong Leong Investment Bank Berhad
2. Datuk Kenny Liew Hock Nean, Executive Vice Chairman, TOPVISION Eye Specialist Berhad
3. Dr. Peter Chong Kuok Siong, Chief Executive Officer and Executive Director, TOPVISION Eye Specialist Berhad
About TOPVISION Eye Specialist Berhad (“TOPVISION”)
TOPVISION Eye Specialist Berhad is a prominent provider of medical eye care services in Malaysia, specialising in comprehensive eye care treatments including cataract surgery, treatment and management of glaucoma, and treatment and management of vitreous and retinal diseases. TOPVISION was listed on the LEAP Market in 2018, founded with a commitment to delivering advanced and patient-centric medical services, TOPVISION operates a growing network of ambulatory care centres (ACCs) across Malaysia. The Company leverages medical technology and a team of experienced ophthalmologists to provide high-quality treatments. As an experienced player in the field, TOPVISION continues to expand its services, focusing on both innovation and accessibility to enhance the eye health of patients throughout the region.
For more information, visit https://www.tvesc.com/en/
Issued By: Swan Consultancy Sdn. Bhd. on behalf of TOPVISION Eye Specialist Berhad
For more information, please contact:
Jazzmin Wan
Email: j.wan@swanconsultancy.biz
Xinyi Ching
Email: x.ching@swanconsultancy.biz
Topic: Press release summary