OC VISION – the leading and most advanced vision care group in the Baltics, widely recognised through its store networks Vision Express, OptiO, VIZIONETTE, and the online store Dr. Lensor – is planning to launch its first public bond issue in late Q2 2025, with the intention to list the bonds on the Nasdaq Baltic First North market.
Details of the bond issuance — including its interest rate, investor loyalty program, and other terms — are currently being developed in cooperation with Latvia’s leading investment bank, Signet Bank AS, and will be publicly announced at the end of May 2025. The public bond offering will be open to both retail and professional investors across the Baltic states.
OC VISION operates across the Baltics with 77 store locations in Latvia and Lithuania. The company plans to raise up to EUR 10 million through a bond issue. The proceeds from the bond issue will support expanded access to healthcare services and regional growth — including store modernisation and the development of new, specialised concepts for vision and hearing examination rooms. Key priorities for the Group include advancing myopia control programmes for children and enhancing vision quality for clients aged 40 and above, using the latest in spectacle and contact lens technology. The company also maintains strong ambitions for continued M&A activity across the region to consolidate and strengthen its market leadership.
“For more than 35 years, we have invested in improving access to optical services and advancing the education of optometrists. Over time, we’ve contributed to the development of the entire optometry sector. With growing demand, we’ve become a key partner in the region — not only to global manufacturers but also to medical institutions and customers,” said Gatis Kokins, Co-Founder and Member of the Management Board at OC VISION.
It is projected that by 2029, nearly 56% of the Baltic population will require vision correction. At the same time, demand for hearing care is rising rapidly. These trends indicate a clear need to expand service accessibility, improve early diagnostics, and strengthen preventive care across the region.
“With long-term investment and deep expertise within the company, we are well-positioned to meet society’s growing needs for vision and hearing care. The funds raised through the bond issue will allow us to expand on a larger scale, while offering investors the opportunity to contribute to a fast-growing, socially significant area of healthcare,” said Toms Dzenis, CEO and Member of the Management Board at OC VISION.
Edmunds Antufjevs, Head of Investment Banking at Signet Bank AS, adds: “Bond offerings in the healthcare sector are not so often, which makes this opportunity particularly compelling for investors seeking stability and a clear direction for growth. OC VISION is particularly noteworthy as it operates in the healthcare services — specifically in vision and hearing care — areas whose societal importance is expected to grow significantly in the long term. Historical data also demonstrates that demand for vision care services remains strong even during periods when other business sectors are negatively impacted by external factors.”
About OC VISION
Operating since 1991, OC VISION is a major player in the optical market, operating 77 retail locations in Latvia and Lithuania through brands such as Vision Express, OptiO, and VIZIONETTE. The Group is also expanding its e-commerce footprint through Dr. Lensor, active across the Baltics and now growing in Northern Europe. Additionally, Opptica serves as a reliable wholesale and service partner for optical goods and ophthalmic equipment, supporting eye care and medical professionals throughout the region.
In 2024, OC VISION recorded 10% revenue growth year-on-year, reaching a record €36 million. EBITDA rose to €2.2 million, reflecting 38% growth compared to the previous year.
OC VISION’s ambition is to lead the development of vision and hearing care in the Baltics by introducing the latest technological innovations and creating opportunities for top industry professionals. To date, the company has invested over €11 million in diagnostic facilities and advanced technologies to support vision and hearing health—and remains committed to continued investment in this promising field.
On 25 March 2025, the Central Finance and Contracting Agency (CFCA) approved the investment project application No. 1.2.1.3/1/25/A/001 “Attracting Capital Market Financing for SIA OC VISION to Enhance International Competitiveness and Investment in Development and Innovation.” The project aims to raise financing through the capital market. The total eligible project costs are EUR 266,866.56, including EUR 102,000.00 in ERDF support and EUR 18,000.00 in national co-financing.
Disclaimer: This announcement is for informational purposes only regarding a potential future bond offering. It does not constitute an offer to sell or a solicitation to buy any bonds, nor is it investment analysis or advice. In any event, no bonds will be offered or sold in any jurisdiction where such activity would be unlawful prior to the registration, approval, or publication of a prospectus or equivalent offering document.
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