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New products in the pipeline after DomaCom IPO

The underwritten DomaCom IPO will provide the company with the necessary capital backing to underpin its next growth phase, according to Arthur Naoumidis, the company’s founder and chief executive...

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New products in the pipeline after DomaCom IPO

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Arthur Naoumidis

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The underwritten DomaCom IPO will provide the company with the necessary capital backing to underpin its next growth phase, according to Arthur Naoumidis, the company’s founder and chief executive. More property book-builds and new product offerings are on the way.

“We have created enormous interest in our crowd-funding model for property, and by taking the next step and listing we are telling the investment community that we have long-term, exciting goals in this investment space,” he said yesterday.

“It’s our belief that some investors have held back from investing in our book-builds because of a degree of uncertainty around DomaCom, but a public listing should put to rest any concerns about our ability to manage a fund and deliver new products to the market.

“This infusion of capital will position DomaCom for the future – 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.”

The IPO, applications for which opened on Monday (July 11) and will close on August 5, aims to raise $10 million with half that amount underwritten by new and existing shareholders.

Naoumidis is confident that the $10 million target will be reached. He said: “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.”

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.

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