Singapore real estate and debt crowdfunding site debuts on ASX

CoAssets has an estimated market cap of A$66m; it raised A$6.55m from its IPO at an issue price of A$0.40 a share

Published Mon, Sep 5, 2016 · 09:50 PM

Singapore

COASSETS, a homegrown real estate and debt-crowdfunding platform, on Monday debuted on the Australian Securities Exchange (ASX) with an estimated market capitalisation of A$66 million (S$67.73 million).

The three-year-old startup, believed to be first crowdfunding platform to be listed in Australia, raised some A$6.55 million from its IPO (initial public offering) on ASX, at an issue price of A$0.40 a share, its offer price.

Co-founder Getty Goh said CoAssets' share price reflected the newness of the field and the absence of comparables on ASX. He told The Business Times: "As crowdfunding gains more traction, our share pric…