ATLANTA—Visioneering Technologies (ASX:VTI), the maker of NaturalVue Multifocal 1 Day contact lenses, announced that it is now listed on the Australian Securities Exchange after raising $33.3 million following the close of its initial public offer.

The IPO proceeds will be used to expand its U.S. sales force and inventory as VTI broadens and accelerates its U.S. launch of NaturalVue MF, which are daily disposable contact lenses for adults with presbyopia (age-related loss of near vision), and children with myopia (near-sightedness), the company said in a statement. VTI also plans to launch additional contact lens products.

VTI offered for issue approximately 79.4 million CHESS Depositary Interests (CDIs), each representing an interest in one share of VTI’s Class A common stock. The offer was priced at $0.42/CDI, with an indicative market capitalization of approximately A$88.2 million (on a fully-diluted basis). The CDIs will trade on the ASX under the ticker VTI.

The NaturalVue MF contact lens has been cleared by the U.S. Food and Drug Administration, and a pilot launch in the U.S. market began in 2015 and generated strong interest. Within 12 months of the pilot launch commencing, demand for the NaturalVue MF contact lenses far outpaced VTI’s ability to supply product with its then-limited infrastructure, and 90 per cent of patients who had been using the lenses long enough to use up their supplies reordered, indicating strong repeat purchasing, according to Visioneering.