DomaCom has officially announced that the crowdfunding firm is to list on the ASX, aiming to raise $10 million in an IPO.
In a statement, DomaCom said the firm expects to see a minimum of $5 million from investors. The minimum raising has been underwritten by new and existing shareholders, the statement said.
Chief executive Arthur Naoumidis said he is confident the $10 million target will be reached.
“We have created a lot of public interest around our fractional investment platform, especially our high-profile bid for the land component of the iconic Kidman Station, and we are confident this will translate into investor interest in DomaCom,” he said.
“The infusion of capital will position DomaCom for its next growth phase – to instigate more property book-builds, and subject to regulatory approvals, launch a seniors’ equity release product and a fractionalised corporate bond product.”
Mr Naoumidis continued that by adding new products to its offering, investors will have the opportunity to build a diversified portfolio in a way that previously was difficult to achieve.
“Being an innovative platform, a world first, and operating in the intermediary market as we do, the capital raising will give DomaCom a strong financial base, putting to rest any concerns about our ability to manage a fund and deliver new products to the market,” he said.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 20 Oct 2017Parliamentary insurance group formedBy Staff Reporter
- 20 Oct 2017Treasurer introduces BEAR legislationBy Aleks Vickovich
- 20 Oct 2017Westpac to refund $65m to customersBy Annie Kane
- 20 Oct 2017Survey tips independent takeoverBy Aleks Vickovich and Jessica Yun
- 18 Oct 2017AFA suffers budget blowoutBy Killian Plastow
- 18 Oct 2017ISA ups ante on governance lobbyingBy Aleks Vickovich
- view all