Crowdfunder DomaCom to list today
The 700 shareholders at DomaCom are now looking to increase the crowdfunding platform's funds under management (FUM) based revenue, following its listing on the Australian Securities Exchange (ASX) today.
DomaCom chief executive, Arthur Naoumidis, said that the company had recently completed book-builds for properties across five states and had a further 59 planned for the company's expansion, along with a new project in far North Queensland.
"DomaCom has launched public crowdfunding campaigns for The Block apartments and completed 32 per cent of the book for a cattle station Pajingo in far North Queensland," he said.
Naoumidis said that the process to increase FUM-based revenue for the crowdfunder would now be helped on by the registration of asset allocation as managed investment schemes, which had the potential to attract the attention of planners.
"We have been working on other fractional model product ideas that will continue to give advice the products that meet the needs of their business and clients."
DomaCom would list as of 11:00am on Monday, 7 November.
AUTHOR
Hope William-Smith
Recommended for you
AUSIEX has announced it will acquire FIIG, a specialist fixed income provider with $4.5 billion in funds under advice.
Platinum Asset Management has announced it is in discussions with a global alternatives fund manager regarding a possible merger to create an $18 billion firm.
JP Morgan Asset Management has appointed an ETF specialist from Vanguard as it seeks to expand its ETF range.
The alternative asset manager has expanded its Singapore office with a head of Asian distribution, representing a “critical step” for the Asian business, where it is seeking to launch new offerings.
