Elsight IPO ( Another Hi Tech Israeli IPO )

Originally posted by Nani (MG) ↑

http://el-sight.com
Lodged yesterday arvo only
No prospectus yet. But I am hearing the following and managed to get my hands on the Following Info from a source. If anyone here knows more pls share here. I believe in sharing things for the betterment of all of us small big and little investors. Cheers.

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The Company was incorporated on 13 December 2016 primarily for the purpose of investigating opportunities to invest in technology companies. Subsequently a decision was made to invest in El-Sight Ltd, a company incorporated in Israel (El- Sight Israel), and the developer and the owner of the Technology (defined in this Prospectus). The Company will now acquire 100% of the shares of El-Sight Israel and proceed to list on the ASX. The Company is seeking to raise up to $6,500,000 through an issue of up to 32,500,000 Shares at an issue price of $0.20 per Share.
El-Sight Israel was founded in 2009 by Mr Nir **ay and Mr Roee Kashi to provide multichannel technology for high-bandwidth, stable and secured live data transfer for first responders, such as police and emergency service personnel in Israel. The technology builds on the mutual experiences of Mr **ay and Mr Kashi who have a deep technical background coming from Israeli Special Forces and Military Intelligence.

As is often the case with technology that comes from a military and security foundation, profound discoveries can be made due to the unique imperatives driving these applications. Some of these technologies go on to enjoy considerable success across a broad range of civilian markets. El-Sight Israel has created products based on its technology which are deployed today by homeland security services, police and other first responders, and civilian applications. El-Sight Israel is currently generating revenue and is seeking investment to capitalise on what it considers is a growing opportunity for its products given its success rate in signing up customers.
A significant part of the funds raised will be used to acquire and deploy sales and marketing resources in order to drive revenue growth for existing products. Funds raised will also be used for research and development to enhance thecurrent product lines, to commercialise new technologies and to remain competitive into the future.

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Great post Nani... was given heads up about this from a broker when I queried what was coming up... Looked into it immediately and asked for him to forwrad the prospectus my way as soon as I looked at the website and their offering..