Crowdfunder DomaCom has completed its IPO and will list at 11.00am on Monday, November 7.
Chief Executive Officer Arthur Naoumidis said that the company had raised $7.33 million from more than 500 new investors, taking total shareholder numbers to more than 700.
“We have completed 24 book-builds for properties in Victoria, New South Wales, Queensland, South Australia and Western Australia, with another 59 book-builds in the pipeline.
“In addition to these book-builds, DomaCom has launched public crowdfunding campaigns for The Block apartments and has completed 32% of the book for the cattle station Pajingo in far north Queensland,” he said.
The DomaCom Fund now sits on the approved product list of 41 Australian Financial Service Licensees that span more than 1200 independent financial advisers.
Naoumidis said that controlled asset allocation to real property was a reality and being structured as a registered Managed Investment Scheme brought the asset class within the financial planners’ purview, potentially increasing the advisers’ client reach, their sphere of influence and FUM-based revenue.
DomaCom is also finalising arrangements to have the DomaCom Fund made available on one of the largest SMSF channels in Australia and is well advanced towards 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.”
