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
With active ETFs becoming the latest choice as fund managers target the retail audience, their high fees may be a detractor as research finds investors are shunning those priced any higher than 50 bps.
The possibility of a dissenting vote from shareholder L1 Capital has led Platinum Asset Management to scrap its conversion plan for the $450 million Platinum Capital LIC into an ETF.
Family office Lederer Group has made an off-market takeover bid for ASX-listed Elanor Commercial Property Fund, with chair Paul Lederer taking exception at the firm’s lack of accountability, oversight and transparency.
Janus Henderson is actively seeking to partner with private wealth firms in Australia as it looks to expand its number of strategic partnerships, as well as focus on retirement income product development.
