With an issue price of 7,50 Hong Kong dollars, the first exchange rate was 14,20 Hong Kong dollars, about 90 percent higher.
With the proceeds from the IPO, EuroEyes plans above all to build clinics in major Chinese cities such as Chengdu and Chongqing, make possible acquisitions of clinics in Europe and strengthen its marketing activities.
"In China, there is a huge need for vision correction. According to a market analysis, almost 90 percent of young people are severely nearsighted. We expect 655 million people in 2023. Presbyopia, which is corrected with a trifocal lens, also plays an important role," says Dr. J?rn S. J?rgensen, founder, chairman and CEO of EuroEyes.
The Group has established itself as a high-end provider of surgical vision correction in China. "Our unique selling points include the excellent reputation of German ophthalmology, the large number of operations performed, the early use of modern technologies, the quality and comfort of services, customer satisfaction and the outstanding location of the clinics in the major cities," says Dr. J?rgensen.
"We have chosen Hong Kong as our stock exchange location because our future growth is mainly in China and we can finance our expansion from the IPO," says Dr. Markus Braun, CFO of EuroEyes.
In the initial public offering, 79,334,000 offer shares were issued by EuroEyes, of which 71,400,000 offer shares were for its international private placement to professional investors and the remaining 7,934,000 shares were for its Hong Kong public offering. Trading of the EuroEyes share on the SEHK started on 15 October 2019. The public offering in Hong Kong started on 30 September 2019 and finished on 8 October 2019. The offer price and the final allocation were announced on 14 October 2019.
BOCI Asia Limited acted as global coordinator for the listing. BOCI Asia Limited, China Securities (International) Corporate Finance Company Limited and Fosun Hani Securities Limited acted jointly as bookrunners and lead managers. Eversheds Sutherland was the Hong Kong and German legal adviser to EuroEyes in its listing.
EuroEyes International Eye Clinic Limited is a Cayman Islands incorporated company with significant business in Denmark, Germany and China. In terms of sales, the company ranks first in the market for modern refractive laser and lens surgery (excluding PRK and LASEK) in Germany and second in Denmark. The Group was the first foreign provider of surgical vision correction in the People's Republic of China (besides those from Hong Kong, Macau and Taiwan). EuroEyes has a total of 15 locations in Germany, including its headquarters in Hamburg, 6 locations in China, including Shanghai and Beijing, and a further 5 locations in Denmark.
This information does not constitute a public offering of shares in Germany or Denmark or within any other country of the European Monetary Area ("EEA") or outside Hong Kong.