Topvision Eye Specialist Bhd’s share debuted at 39 sen per share, reflecting an 18.18% premium over its issue price of 33 sen.
As of 10:40am, Topvision’s stock is trading at 36 sen, with 43.98 million shares traded.
Earlier, Rakuten assigned a fair market value of 42 sen for Topvision ahead of the eye specialist’s listing transfer to Bursa’s ACE market today.
Topvision has issued a total of 54.22 million new shares to raise RM17.9 million. The funds raised will be strategically allocated to support the company’s expansion and operational goals. Specifically, RM7.9 million will be used to fund the development of Topvision International, a multidisciplinary specialist tertiary eye ambulatory care centres with an additional RM5 million to be allocated for the establishment of Topvision Kuala Terengganu and Topvision Tawau, while RM0.5 million is set aside for enhancing existing facilities via the purchase of medical machines. The remaining RM4.5 million has been allocated for listing expenses.
On Dec 5, the company announced that it had received 16,671 applications for 924.76 million issued shares, resulting in an oversubscription rate of 58.69 times.
Topvision is primarily involved in medical eye care services, operating through 11 ambulatory care centres across Malaysia, offering services ranging from general eye care to advanced vitreoretinal surgeries.
Hong Leong Investment Bank Bhd is the principal advisor, sponsor, sole underwriter and sole bookrunner for Topvision’s IPO.
