The commencement of trading on the NSX platform follows a heavily supported initial public offering (IPO) in which OliveX raised a total of $2,181,987 at 20 cents per share.
Funds received from the IPO provide OliveX with the ability to advance its subscription-based, digital health and fitness business.
Flagship smart fitness application
Prior to listing, OliveX has achieved downloads for its premium game-based exercise applications in over 170 countries.
OliveX is confident that subscriber numbers will continue to grow with the support of increased marketing and sales efforts over the coming months related to its flagship KARA Smart Fitness application and KARA Mirror.
KARA Smart Fitness aims to deliver premium, on-demand health and fitness related content and classes from celebrity trainers and wellness influencers across the globe.
The application and associated smart mirror technology provide the complete at-home fitness solution to consumers whilst enabling trainers and brands to engage directly with their target market.
"A significant milestone for OliveX "
OliveX managing director and CEO Keith Rumjahn said: “Successfully listing on the NSX is a significant milestone for OliveX and provides us with the ability to considerably fast-track our growth over the coming months.
“With the financial strength now in place to drive the coach, brand and user uptake of our suite of applications and hardware solutions, OliveX is well positioned to capitalise on meeting the increasing consumer demand for safe, technology enabled, at-home fitness products.
“We would like to thank our investors and advisors for their support during the IPO phase and we look forward to delivering long-term value to existing investors and shareholders that join our register.”