DomaCom set to secure beef property

Crowdfunding platform DomaCom is set to purchase a cattle property.

DomaCom, which is listed on the Australian Securities Exchange, is a fractional investment platform allowing investors to own and trade shares or units in a property, whether residential, commercial or rural.

The company’s attempted bid for the vast Kidman saw about 4000 retail investors pool $60 million, but DomaCom withdrew after billionaire Gina Rinehart joined Shanghai CRED in a knockout $386.5 million offer.

DomaCom is set to secure farms price from $5 million to $12 million in the beef sector, DomaCom founder and chief executive Arthur Naoumidis said.

The company’s focus had been on residential having completed bookbuilds on 24 residential properties.

In its initial public offering, DomaCom raised $7.3 million from 500 investors with a market capitalisation of $37.6 million.

It had about $12 million under management before listing.