TOPVISION Transfers From LEAP Market To ACE Market, Signs Underwriting Agreement With Hong Leong Investment Bank

KUALA LUMPUR, Oct 30, 2024 - ( JCN Newswire ) - TOPVISION Eye Specialist Berhad ("TOPVISION" or the "Company"), an experienced player in medical eye care services in Malaysia, is pleased to announce the signing of its underwriting agreement with Hong Leong Investment Bank Berhad ("HLIB") for its upcoming public offering in conjunction with the transfer of listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Berhad ("Transfer of Listing") ("Bursa Securities"). This Transfer of Listing representing a significant milestone in the Company's growth journey.

TOPVISION is an established eye care provider with a strong presence in Malaysia, specialising in comprehensive ophthalmic services including cataract surgeries, treatment and management of glaucoma, and treatment and management of vitreous and retinal diseases. Listed on the LEAP Market of Bursa Securities in 2018, the Company operates a growing network of ambulatory care centres ("ACCs") across Malaysia, with plans to expand to 14 ACCs by next year, including its maiden entry into East Malaysia. With a focus on providing advanced, patient-centric care, TOPVISION is committed to leveraging medical technology to enhance the quality of life for its patients.

The Transfer of Listing exercise, as outlined in the Company's draft prospectus, will involve the public issue of 54.22 million new ordinary shares in TOPVISION ("Issue Shares"), representing 17.50% of the enlarged issued share capital, in conjunction with the transfer of its listing from the LEAP Market to the ACE Market of Bursa Securities.

The allocation of Issue Shares will be offered in the following manner: -

1. Institutional offering of approximately 33.93 million Issue Shares, representing 10.95% of the enlarged issued share capital, to be allocated to institutional and selected investors.

2. Retail offering of 20.29 million Issue Shares, representing 6.55% of the enlarged issued share capital:

a. 1.32 million Issue Shares for application by eligible directors (representing 0.42% of the enlarged issued share capital);

b. 2.16 million Issue Shares for application by eligible employees (representing 0.70% of the enlarged issued share capital);

c. 1.33 million Issue Shares for application by persons who have contributed to the success of the Group (representing 0.43% of the enlarged issued share capital);

d. 7.75 million Issue Shares for application by the Malaysian public via balloting equally allocated between Bumiputera (representing 2.5% of the enlarged issued share capital) and 7.75 million Issue Shares for non-Bumiputera (representing 2.5% of the enlarged issued share capital) investors.

HLIB, acting as the Principal Adviser, Sponsor, Sole Underwriter and Sole Bookrunner, will underwrite 20.29 million Issue Shares allocated for the retail offering.

Datuk Kenny Liew Hock Nean, Executive Vice Chairman of TOPVISION said, "This Transfer of Listing is a significant moment for TOPVISION as we transition from the LEAP Market to the ACE Market. The partnership with HLIB for our listing underscores our commitment to expanding access to high-quality eye care services throughout Malaysia. The funds raised from this public offering will allow us to further enhance our medical technology, expand our network of ACCs, and continue our contributions to the eye care sector. Having first been listed on the LEAP Market in 2018, TOPVISION is well-positioned for growth, and we believe this transfer listing will provide us with the resources needed to reach new heights, benefiting both our patients and stakeholders."

Ms. Lee Jim Leng, Group Managing Director/ Chief Executive Officer of HLIB commented, "We are honoured to be part of TOPVISION's journey to transfer from its LEAP Market listing in 2018 to now becoming a publicly listed entity on the ACE Market. We are excited with the prospects of TOPVISION being able to access a wider pool of investors via the ACE Market listing, which would help propel TOPVISION's growth to the next level."

The proceeds will be primarily used for the establishment of TOPVISION International Eye Specialist Centre and two new ACCs in Kuala Terengganu and Tawau. Additionally, the proceeds will be utilised to purchase new medical equipment and cover the estimated expenses for the transfer of the Company's listing from the LEAP Market to the ACE Market of Bursa Securities.

TOPVISION obtained Bursa Securities' approval for the transfer of listing from LEAP Market to ACE Market of Bursa Malaysia on 17 September 2024.

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. 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
Tel: +60 17-289 4110
Email: j.wan@swanconsultancy.biz

Xinyi Ching
Tel: +60 19-337 9099
Email: x.ching@swanconsultancy.biz