Shares in Oventus have soared more than 35 per cent a day after listing on the ASX, as prominent investor Alex Waislitz's TIGA Trading boosted its stake in the sleep apnoea device maker.
Oventus shares gained 25 cents, or 35.7 per cent, to 95 cents, after adding 20 cents in its first session on the market on Tuesday.
On Wednesday, investment firm TIGA Trading boosted its stake to 6.78 per cent.
TIGA Trading is owned by Thorney Investment Group, headed by Mr Waislitz, who is also vice-president of the Collingwood Football Club.
TIGA was one of Oventus's top 20 shareholders when the company listed, holding a stake of 1.74 per cent.
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Thorney Investment Group is closely connected to the Pratt family. Alex Waislitz is married to the late Richard Pratt's daughter Heloise.
Oventus's sleep apnoea device, called the O2VENT, is like a fancy sports mouthguard that users fit into their mouth before going to sleep.
It's a custom-made upper and lower mouthguard that are attached, with an airway in the middle. The airway delivers air to the back of the mouth, bypassing obstruction from the nose, soft palate and tongue.
It's designed for people who have nasal obstructions and, consequently, breathe mainly through their mouth.
Oventus says the O2VENT can avoid nasal obstruction, air pressure and mask issues associated with other apnoea treatment devices.
