Aged care technology company InteliCare has sent the allocations for its IPO as it prepares to list on the ASX in May.

The new smart technology solution for seniors ageing at home is in a good position to become the market leader as confidence in duress pendants and home emergency alarms deteriorates. Earlier this year, Choice decided to stop recommending duress pendants as the product was only being used in 80% of emergencies.

Continuing InteliCare’s push to list on the ASX during the COVID-19 pandemic, lead manager, JP Equity, sent the allocations for the $5.5 million offer on Tuesday 21st April and will close the deal on Wednesday 22nd April.

InteliCare plans to list on the ASX on May 29 with 27.5 million shares priced at 20c.

Read the article in The Australian Financial Review