Australia-based crowdfunding platform DomaCom submitted a prospectus with ASIC and subsequently made a formal listing application with the Australian Securities Exchange (ASX). Applications to invest are also now open, according to SMSF Advisor. An AUS $10 million target has been set for the raise, the minimum raising of $5 million has been already been underwritten by new and existing shareholders. The crowdfunding platform offers opportunities to invest across a range of property types in different geographic locations around Australia, from agricultural and pastoral to residential and highway frontage commercial.
“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,” commented DomaCom CEO Arthur Naoumidis. “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.”
Naoumidis indicated to SMSF Advisor that the capital raising will give DomaCom a strong financial base, “putting to rest any concerns about its ability to manage a find and deliver new products to the market.”
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