Powered by MOMENTUM MEDIA
subscribe to our newsletter

DomaCom increases minimum raising ahead of IPO

Crowdfunder DomaCom has announced it has increased the minimum raising to $6 million ahead of an initial public offering.

DomaCom says the corresponding underwriting commitment is also increasing to $6 million to ensure the minimum is fully underwritten.

The closing date of the offer remains at 19 August, the crowdfunder said in a statement.

DomaCom chief executive Arthur Naoumidis added that it is engaged in ongoing discussions with a retail superannuation fund to participate in the Kidman transaction.

“These discussions have progressed to the point that the company believes that the retail fund is likely to add the DomaCom Kidman Station to one of their funds, with the potential to successfully raise the capital to acquire the land component of S. Kidman and Company,” Mr Naoumidis said.

Advertisement
Advertisement

“There can, however, be no guarantee that this project will complete.”

DomaCom said that with the increased minimum capital raising and the improved outlook for significant transactions, its modelling does not show a need to raise further capital in the next two years, and it will have sufficient capital to carry out its stated objectives.

[Related: DomaCom teams up with peer-to-peer lender]

 

DomaCom increases minimum raising ahead of IPO

PROMOTED CONTENT


>DomaCom says the corresponding underwriting commitment is also increasing to $6 million to ensure the minimum is fully underwritten.

The closing date of the offer remains at 19 August, the crowdfunder said in a statement.

DomaCom chief executive Arthur Naoumidis added that it is engaged in ongoing discussions with a retail superannuation fund to participate in the Kidman transaction.

“These discussions have progressed to the point that the company believes that the retail fund is likely to add the DomaCom Kidman Station to one of their funds, with the potential to successfully raise the capital to acquire the land component of S. Kidman and Company,” Mr Naoumidis said.

“There can, however, be no guarantee that this project will complete.”

DomaCom said that with the increased minimum capital raising and the improved outlook for significant transactions, its modelling does not show a need to raise further capital in the next two years, and it will have sufficient capital to carry out its stated objectives.

[Related: DomaCom teams up with peer-to-peer lender]

 

DomaCom increases minimum raising ahead of IPO
mortgagebusiness

Latest News

The IMF has urged Australia to consider reforms around housing supply and lending standards, citing apprehension around the upsurge in prope...

Treasurer Josh Frydenberg has backed the net-zero emissions by 2050 target, warning failure to comply will hurt banks’ access to capital a...

The regulator is set to release information setting out how it would use macroprudential policy tools, after expressing concerns around the ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.