OPTIMAX Holdings Bhd has named Affin Hwang Investment Bank Bhd as the company’s sole underwriter for its initial public offering (IPO).
The eye specialist service provider is targeting a prospectus launch of July 15, with an IPO of 70 million new shares. There will be 13.5 million shares made available to the public via balloting, 4 million will be allocated for eligible persons, while the remaining 52.5 million will be allocated for private placement to institutional and selected investors.
The underwriting agreement inked by the two parties will see Affin Hwang underwriting a total of 17.5 million new shares, which would be the shares for the public as well as the shares for eligible persons.
Affin Hwang is also the sole principal adviser, sole placement agent, and sponsor to Optimax for this IPO exercise.
Optimax will be using the proceeds from the IPO as capital expenditure, to repay borrowings, as working capital, and for the estimated listing expenses. The capex includes the acquisition of two units of three-storey terraced shops/offices in Seremban, the purchase of equipment to equip those units as an ambulatory care centre, as well as the purchase of new equipment for the company’s existing specialist centres.
“The underwriting agreement with Affin Hwang is another step forward in our journey which is backed by our solid 25-year track record in providing eye specialist services in this country.
“The listing exercise will strengthen Optimax’s financial position as we embark on our next phase of business expansion plans,” said Optimax CEO Sandy Tan. – July 7, 2020
