Optimax chairman Tan Sri Dr Ahmad Tajuddin Ali and Tan at the company’s listing ceremony. – BERNAMAPIXEye specialist Optimax Holding Bhd ended its first day of trading on Bursa Malaysia’s ACE Market yesterday at 68.5 sen or a 128.3% premium over its offer price of 30 sen.
The counter started on solid footing as it opened at 71 sen per share, a 41 sen premium over its offer price and subsequently reached an intra-day high of 76 sen. Its CEO Sandy Tan commented that the listing marks the first step to get investors acquainted with its business since it started as a specialist clinic in 1995.
“We have expanded rapidly in recent years, with a number of acquisitions made in the central and southern regions of the peninsula in 2017, the listing of Optimax brings with it the funding to expand our market reach and realise our immediate plans,” she said in a press release. The listing exercise raised RM21 million for the group and it has earmarked 49.31% or RM10.35 million of the amount raised towards capital expenditure, 16.76% or RM3.52 million for repayment of borrowings and 16.79% or RM3.53 million for working capital while the remaining 17.14% or RM3.6 million will be used to defray listing expenses.