EuroEyes: Successful listing in Hong Kong

15th June 2024

EuroEyes: Successful listing in Hong Kong

EuroEyes International Eye Clinic Limited (“EuroEyes”), one of the leading providers of surgical vision correction, successfully completed the listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK") on 15 October 2019. Gross proceeds from the global offering amounted to approximately HKD 595 million (exclusive of the exercise of the over-allotment option). Assuming full exercise of the over-allotment option, the gross proceeds from the global offering will increase to approximately HKD 684 million.

With a first price quotation of HKD 14,20 at the SEHK, the first price quotation was almost 90 percent higher than the final offer price of HKD 7.50 for the newly issued shares.

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 nearsighted. We expect the number of Chinese people with myopia to grow to 655 million by 2023. Presbyopia, which is corrected with a trifocal lens, also plays an important role," says Dr. Jørn S. Jørgensen, founder, chairman and CEO of EuroEyes.

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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.Jørgensen.

"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 in an international private placement to institutional investors and a 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 final offer price and the final allocation were announced on 14 October 2019.

BOCI Asia Limited acted as the sole sponsor and sole 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 Germany, Denmark and China. In terms of revenue, the company ranked first in the market for modern refractive laser and advanced lens surgery (excluding PRK and LASEK) in Germany and second in Denmark in 2018. Among the existing industry participants, the Company was the first foreign entrant (except for those from Hong Kong, Macau and Taiwan) to the PRC vision correction services market. 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.

Legal notice

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.