The last few months have seen a large number of companies complete their initial public offerings (IPOs).
Two standouts that have caught the eye are listed below. Here’s why they will be on watch in 2021:
Doctor Care Anywhere Ltd (ASX: DOC)
Doctor Care Anywhere is a growing UK-based telehealth company aiming to deliver high-quality, effective, and efficient care to its patients, whilst reducing the overall cost of providing clinical services.
Earlier this month the company’s shares landed on the Australian share market after completing an IPO which raised $102 million at 80 cents per share. Since then, the company’s shares have surged higher and are currently fetching $1.20.
Investors appear to have been impressed with its growth prospects and a recent announcement. In respect to the latter, that announcement revealed that the telehealth company has signed a new channel agreement with Allianz Partners. It is one of the world’s largest insurance and assistance companies.
This agreement will give Allianz Partners international private medical insurance policyholders and their dependents based in Europe access to Doctor Care Anywhere’s digital health services.
Looking ahead, the company’s founder and CEO, Dr Bayju Thakar, is positive on the future.
Following its IPO, he commented: “Whilst today marks an important milestone in Doctor Care Anywhere’s journey, we believe it is only the beginning as we look to become a leader in digital health, not just in the UK but globally, by delivering a joined-up and simple patient journey. The capital we’ve raised via the IPO will allow us to better serve our current patients with a broader range of services and to execute on our clear and ambitious growth plans.”
Nuix Limited (ASX: NXL)
Nuix is a leading provider of investigative analytics and intelligence software with a vision of “finding truth in a digital world.” It helps customers from around the world in many different industry verticals process, normalise, index, enrich, and analyse data from a multitude of different sources.
The company’s software has been used in a number of important investigations over the last decade and a half. This includes the Panama Papers, the Banking Royal Commission, organised crime rings, corporate scandals, and terrorist activities.
Demand has been strong for its services and led to Nuix reporting a 25.9% increase in total revenue to $175.9 million in FY 2020. This revenue is largely from subscriptions, with subscription revenues now accounting for 88.7% of its total revenue.
Pleasingly, the company’s Chairman, Jeff Bleich, appears to believe the company’s strong form can continue.
Upon listing, he commented: “Nuix’s growth strategy seeks to expand its presence across geographies and in targeted industry verticals by winning new customers, employing an industry‑centric “land and expand” strategy across industry verticals, continued investment in functionality of the Nuix platform, and improvements in overall operating efficiency and extracting potential benefits of increased scale.”
“In addition, Nuix believes that growth can be accelerated by focusing on building a network of strategic partners to provide complementary delivery and market expansion capabilities, as well as through a considered approach to value accretive mergers and acquisitions,” he concluded.
The Nuix share price has been a strong performer since listing on the ASX boards. At the time of writing, it is fetching $8.19, which is almost 55% higher than its IPO price of $5.31 per share.
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More reading
- Experts pick the best ASX IPO of 2020
- Why a2 Milk, Doctor Care Anywhere, McPherson’s, & Volpara are pushing higher
- Why the Doctor Care Anywhere (ASX:DOC) share price is surging 11% higher
- Here’s how Nuix (ASX:NXL) and these recent IPOs are performing since listing
- Creso Pharma and Nuix were among the most traded shares on the ASX last week
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post 2 newly listed ASX shares to watch in 2021 appeared first on The Motley Fool Australia.
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