Hey @johnk123, I don't believe it's strictly can be considered...

Hey @johnk123, I don't believe it's strictly can be considered an IPO it'sbeing offered as

An American depositary share (ADS) is an equity share of a non-U.S. company that is held by a U.S. depositary bank and is available for purchase by U.S. investors. The entire issuance of shares by a foreign company is called an American Depositary Receipt (ADR), while the individual shares are referred to as ADSs.

Under NASDAQ code IXHL 25M Shares on a 50:1 Ratio
Meaning 50 ASX IHL Shares for 1 ADSS issued security on the Nasdaq - Price will be determined by the ASX price initially.

Good luck @JohnK123