Applications to invest in the underwritten Initial Public Offering (IPO) for the crowdfunder DomaCom open today (11 July).
The IPO, which aims to raise $10 million with a minimum of $5 million from investors, lodged its prospectus with the Australian Securities and Investments Commission (ASIC) on 24 June and subsequently made its formal listing application with the Australian Securities Exchange (ASX)].
The minimum raising of $5 million has been underwritten by new and existing shareholders, and DomaCom CEO Arthur Naoumidis is confident that 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.
“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.
“By adding these and other exciting products to our offering, we are giving people the opportunity to build a diversified investment portfolio for a modest outlay in markets that were previously difficult or impossible for them to access.
“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.”
DomaCom is the first registered fractional investment platform in Australia, providing an online trading platform to enable buyers and sellers to transact for fractional ownership in high value assets such as property.
With 16 book-builds completed and another 37 book-builds currently being structured, DomaCom is on the cusp of significant growth, and the IPO is integral to this process.
Shaw and Partners will be the sponsoring retail broker and Pulse Markets the lead institutional broker for the IPO.
The offer of ordinary shares in DomaCom Limited is made by DomaCom Limited ACN 604 384 885 and SellerCo Limited ACN 612 713 452. A prospectus relating to the offer may be obtained from www.domacom.com.au/investor-relations/ and offers of shares will be made in or accompanied by a copy of the prospectus. A person should consider the prospectus in deciding whether to acquire ordinary shares. Anyone who wants to acquire ordinary shares will need to complete the application form that will be in or will accompany the prospectus.
Investors can access the prospectus. However, applications will only be made available at the end of the ASIC exposure period expected to be on 11 July.