IPO - Enlitic Inc. - 18 December 2023 #, page-11

ENL is kicking off trading today at 10:30 am. They're kind of the first ones to solve a big healthcare problem and are moving fast to make it big. They've been snagging clients left and right – only had 1 in February, but now they're up to 10. They've got a bunch more potential clients lined up too, so things are looking up.

Ont heir IPO price my understanding was that it was set when things weren't looking great for small companies on the ASX. But with interest rates going down quite a bit since this was priced two months ago, I think there maybe a natural arbitrage with this IPO compared to the rallies in comparable healthcare tech companies. For context, companies like 4dx Medical and Promedicus saw big jumps in their market caps recently. Enlitic's starting off at around $70 million, but there's a lot of room to grow, especially seeing how a similar AI healthcare company, Volpara Healthcare, just got a takeover offer at a big premium. Corporate interest in this space is accelerating.