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EuroEyes International files for IPO

EuroEyes International Eye Clinic Ltd. is looking to sell a total of 79,334,000 shares at a price between HK$6.20 and HK$8.80 apiece in an IPO.

The ophthalmology services provider said 71.4 million are international offer shares while the remaining 7,934,000 shares will be offered in Hong Kong.

The Hong Kong portion of the IPO will begin Sept. 30 and end Oct. 8. The company expects its shares to trade on the exchange under the 1846 stock code beginning Oct. 15.

Assuming that the global offering is priced at midpoint, EuroEyes expects to generate net proceeds of about HK$526.7 million.

EuroEyes intends to use HK$210.7 million of the proceeds to establish clinics in major cities of China, including Chengdu and Chongqing. Additionally, HK$173.8 million will fund the potential acquisitions of clinic groups in Europe, while HK$89.5 million will be used for the company's marketing efforts.

The remaining HK$52.7 million will be used for working capital and general corporate purposes.

BOCI Asia Ltd. is the sole sponsor and sole global coordinator in the IPO, with BOCI Asia Ltd., China Securities (International) Corporate Finance Co. Ltd. and Fosun Hani Securities Ltd. serving as joint book runners and joint lead managers.