IPO - Openpay Group Ltd, page-361

Most of the sellers would be IPO investors who are selling at a loss. However there were 5m early investors who received their IPO shares for a discount giving a price equivalent to about $1.20. IMO that is why the price is hanging at around $1.20 or just above - so not many winners here. Xmas trade will give them a bit of a spike but IMO they need much more scale to gain traction in this now increasingly crowded space. They are different as I have pointed out in my earlier post but their target client is not as prolific as those sort by APT and others. If there is growth it will be slower and much more reliant on an upswing in the retail economy. So not sure about it being a great short just not a good short term investment for me at $1.60 at the IPO.