Optimax gets Bursa Malaysia approval for ACE Market IPO

01 Jul 2020 / 23:41 H.

PETALING JAYA: Private eye specialist service provider Optimax Holdings Bhd has received approval from Bursa Malaysia to proceed with its proposed initial public offering on the ACE Market.

Optimax’s IPO involves a total of 70 million new shares, comprising 13.5 million shares to the public, 4 million shares to eligible employees and directors of the group and 52.5 million shares to Malaysian institutional and selected investors.

CEO Sandy Tan said the IPO marks 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.

Tan said that given the group’s industry presence, she is optimistic about its growth prospects.

Optimax, through its group of subsidiaries, is principally involved in the provision of eye specialist services and offers a range of services with in-house expertise in medical ophthalmology at its specialist centres. The group started with a specialist centre in Taman Tun Dr Ismail. Since then, it has expanded into a chain of 13 eye specialist centres across Malaysia to include one specialist hospital, 11 ambulatory care centres and one specialist clinic.

Affin Hwang Investment Bank is the sole principal adviser, placement agent, underwriter and sponsor for the IPO.

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