Laser eye surgery specialist EuroEyes International Eye Clinic has announced its intention of listing its shares on the Hong Kong Stock Exchange to raise up to $89 million.
The Germany-based company's announcement is the latest in a series of planned initial public offering (IPOs) in Hong Kong after it had recovered from the effects of the recent geopolitical turmoil.
As the trade tension between China and the United States subsided following the resumption of trade negotiations, investor sentiment in the city's equities market has drastically improved.
This has resulted in an increase in appetite amongst investors, raising the comfort levels of companies to once again offer their shares on the stock market.
According to EuroEyes' chairman and chief executive officer, Jørn Slot Jørgensen, the company has found Hong Kong to be the perfect international gateway for them to enter the Chinese equities market. EuroEyes is currently the first foreign eye clinic operator to open its business in China. The company established its first clinic in the mainland in 2012.
The company announced that it plans to list around 79.3 million shares in Hong Kong, with a price range between HK$6.20 and HK$8.80 per share. At the higher end of the range, the IPO would be valued at over $89 million. EuroEyes plans to start its IPO from this week until October 8, with a public debut on the Hong Kong Stock Exchange on October 15.
Jørgensen mentioned in a statement that China is going to be the key to the company's future and its growth. The first step in achieving its goal would be to get listed in Hong Kong to allow investors to help in their growth in the new market.
EuroEyes also announced that it plans to open at least two new clinics in China every year. The company already opened two clinics this year, one in Hangzhou and one in Beijing East. For 2020, the company plans to open another two clinics, one in Chengdu and another one in Chongqing.
EuroEyes' clinics provide specialized corrective laser eye surgery for those suffering from refractive vision problems. The company already has dozens of clinics spread throughout Germany, Demark, and in China. EuroEyes currently has six clinics open in China.
Apart from EuroEyes, Anheuser-Busch InBev Asia-Pacific unit also announced the revival of its shelved IPO. The company plans to offer its shares at HK$27 per piece, valuing its planned IPO around $5 billion. Stocks of Budweiser's Asia Pacific unit will begin trading this week.
