So I managed to get an allocation in the IPO, though not nearly...

So I managed to get an allocation in the IPO, though not nearly as many as I'd hoped for due to a big ol' cutback.

I normally don't partake in non-mining IPOs - this is the first for several years.

The hook that caught me was the fact that a significant majority of the IPO proceeds will be thrown at marketing (and a marketing team), because the 'system' itself is pretty much fully developed. This should also lend itself to fairly good newsflow.

So I think it has a pretty good short-medium term outlook.

However given its revenue model (ie cheap job ads), being limited to Australian and New Zealand also really limits their upside. Though I expect they will supplement this with white label offers.

While I see good upside from current SP, to really become a company of significant size imo they have to aggressively look at overseas expansion.

One for the bottom drawer.

Cdchi1