Hong Kong: Clarity Medical Group files for Hong Kong IPO

Clarity Medical Group files for Hong Kong IPO
Clarity Medical Group files for Hong Kong IPO

Ophthalmic specialists Clarity Medical Group is planning to float on the Hong Kong Stock Exchange.

Founded in 2005, the Clarity Medical Group provides ophthalmic services for patients with various eye conditions. The group currently operate two medical centres in Central and Mongkok which are equipped with medical instruments and surgical equipment that allows them to perform various ophthalmic examination, treatments and surgeries for patients.

In the last few years it has grown substantially. Net profits rose 383.6% to HK$26.6m (US$3.4m) million for the year to March last year, and 73.6% to HK$34.9 million for the nine months to December. This was on revenues that rose 101.6% to HK$125.8m for the year and by 68.9% to HK$154.4m for the first three quarters of the year.

Proceeds will be used to for expansion. Clarity has said that it intends to establish three new medical centres in Hong Kong, and look at acquisitions both in Hong Kong and in mainland China.

Sole sponsor is CMBC International Capital and sole financial advisor is UBS.

Clarity is likely to be the second healthcare company to float in Hong Kong this year. At the end of March, healthcare technology platform IntelliCentrics Global raised HK$432.8m selling 80.9m shares, or 18% of the enlarged share capital, at HK$5.35 per share. They have traded up almost 16% since then.