DomaCom hits capital raising target early
DomaCom Limited's latest capital raising program is closing ahead of schedule, after securing $8 million, with plans to list the company on the Australian Securities Exchange later this year.
Fractional property investment fund owner, DomaCom Limited's plans to listing on the Australian Securities Exchange (ASX) later this year, after securing $8 million in a pre-initial public offering.
DomaCom chief executive, Arthur Naoumidis, said the Fractional property investment fund owner's share register boasted almost 200 shareholders, following the latest campaign.
"This capital raising is an exciting step towards a planned public listing in the third quarter of the year," he said.
"It's been a long journey since DomaCom first introduced the concept of fractional property investing to the market in 2012, but we are now starting to gather some real traction in the market.
"We have acquired already our first 11 properties with another 54 property acquisitions in progress.
"This should bring our total number of properties on the platform to 65 with a market valuation of about $40 million."
Axstra Capital managing corporate advisor, Daniel Coombes, who managed the capital raising campaign, said he was "very pleased with the result and to be able to close the pre-IPO ahead of schedule".
"The strong support received from investors is a testament to the potential of DomaCom, and the truly innovative pipeline of financial products it has and is developing," he said.
"With this funding in place, the company can now focus its attention on the next step, which is a public listing."
AUTHOR
Nicholas O'Donoghue
Recommended for you
Selfwealth has provided an update on the status of its scheme implementation deed with Bell Financial Group as well as whether rival bidder Svava remains in the picture.
Magellan Financial Group has reported its first half FY25 results while appointing a new chief financial officer and promoting Sophia Rahmani to chief executive.
Schroders Australia has launched two active ETFs and plans to further expand its listed range over the year ahead.
Platform Netwealth has reported its financial results for the first half of FY25, reporting an 80 per cent increase in net flows, with its CEO viewing a “huge opportunity” from private assets.
