Crowdfunder DomaCom has announced it completed its IPO and is set to list on the ASX this week.
Chief executive Arthur Naoumidis said in a statement that the company had raised $7.33 million from more than 500 new investors.
“We have completed 24 book-builds for properties in Victoria, NSW, Queensland, South Australia and Western Australia, with another 59 book-builds in the pipeline,” he said.
“In addition to these book-builds, DomaCom has launched public crowdfunding campaigns for The Block apartments and has completed 32 per cent of the book for the cattle station Pajingo in far north Queensland.”
The DomaCom fund now sits on the approved product lists of 41 AFSLs that span more than 1200 independent financial advisers, the statement said.
The company is also finalising arrangements to have the DomaCom fund made available on “one of the largest SMSF channels in Australia” and is set to being included in a retail superannuation offer.
“We have been working on other fractional model product ideas that will continue to give advisers the products that meet the needs of their business and clients," Mr Naoumidis said.
Resolution Life Australasia severs ties with AMP.
AMP and TAA have sought an increase in the cap on life insurance commissions for financial advisers.
The government has announced a post-implementation review of the removal of the stamping fee exemption.
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