Optimax en-route to Bursa listing

KUALA LUMPUR: Optimax Holdings Bhd has obtained the approval from Bursa Malaysia to proceed with its proposed initial public offering (IPO) exercise on the ACE Market.

Optimax is an eye specialist, offering a range of services with in-house expertise in medical ophthalmology at its specialist centres.

It provides treatments relating to eye and vision difficulties or impairment covering refractive error, cataract, glaucoma, macular degeneration, diabetic retinopathy and other eye diseases and disorders.

Chief executive officer Sandy Tan said by tapping into the capital market, it would not only enhance Optimax’s corporate profile and reputation, but also raise funds for capital expenditure.

“Given the industry we are in, we are optimistic about our growth prospects and moving forward, we remain committed to delivering sustained value creation for both our shareholders and stakeholders alike,” said Tan in a statement today.

She expects increased demand for eye specialist services.

“Advancing age may cause eye diseases and disorders, placing demand for eye specialist services such as cataract with current trends showing an increase in the population of Malaysians aged 50 and above.

“Additionally, the prevalence of lifestyle diseases with an upward trend of obesity and diabetes patients in our country could possibly lead to a higher demand for eye specialist services as eye diseases are linked to such lifestyle diseases,” she said

Tan said the coming listing would be a milestone, marking the beginning of a new phase of business expansion for Optimax.

“In view of the Covid-19 pandemic and the current economic situation, we will continue to review our business performance and financial position when deciding on our expansion plans.

“This includes the normalisation of our business operations after the easing and relaxation of the movement control order and ensuring adequacy of our working capital for our operations,” she said.

Optimax’s IPO involves a public issue of 70.0 million new shares to the public, eligible employees and Malaysian institutional and selected investors.

Source: NST