Australian investors will get the opportunity to buy into...

Australian investors will get the opportunity to buy into consumers' enthusiasm for wearable fitness technology as Israeli Fitbit competitor Milestone Sports lists on the ASX via the back door with a reverse takeover by Victory Mines.
The company aims to raise at least $3.5 million, in order to accelerate its rollout in United States retail stores, with its flagship product the MilestonePod.
The device is a small sensor which attaches to the user's shoe and collects data such as foot strikes, cadence, stance time, rate of impact, as well as the regular information about distance, duration and pace, without the need for GPS tracking or re-charging.
But unlike the Fitbit wearables which typically start around $130 and go up to $350, the MilestonePod sells for about $24.95.

It is currently sold through Road Runner Sports, Potomac River Running and Tri and Run and has brand clients such as the Pittsburgh Marathon and Newton Running. It also has plans to expand into disability and aged care devices.
The capital raising will occur at 2¢ per share and the company has plans to grow its earnings before interest, tax, depreciation and amortisation from $802,148 in 2015 to $29.4 million by 2018. It is also tracking to turnover more than $1.2 million in the 2016 full-year.
The listing plans were first revealed by Street Talk.