CoAssets Lists on the Australian Securities Exchange

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We are proud to announce that as of yesterday, we are now listed on the Australian Securities Exchange (ASX) at an issue price of S$0.41 per share, giving us a market cap of S$66m. The IPO marks a significant milestone for the team at CoAssets and is the first time a crowdfunding platform has been listed on the ASX.

Mr Getty Goh, CEO and co-founder of CoAssets believes the listing will help lay the foundations for funding to fuel our expansion throughout the Asia Pacific region, while also boosting investor awareness and helping to raise transparency in this field.

To recap, CoAssets is a “crowdfunding” platform which allows real estate developers and small businesses to list investment opportunities online, subject to vetting by the platform. The platform’s sweet spot is the S$100k to S$5m funding gap. Incorporated in Singapore in 2013, CoAssets has since grown from a two man team to a 65 person operation. Prior to the IPO, the company had raised S$4.8m through a series of private placements, including a S$1m Series A in August 2005, which was led by Innosight Ventures. Previously, CoAssets was listed on the NSX.

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Commenting on the IPO, Mr Goh further added that: As a homegrown Singapore company, we are proud to be flying the flag high; demonstrating that we can deliver value within the Asia Pacific region. Singaporean companies are noted for our strong adherence to compliance and regulatory procedures; as well as our transparency in conducting business. Singapore has been a great platform for our expansion since launch. We are ready to take the next step as a listed company and continue to drive value for our customers and shareholders. Today, we announce our listing on the ASX and notch a significant milestone for both economies, as the first crowdfunding company to list in Australia.”

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CoAssets’ board of directors and partners

CoAssets currently boasts a user-base of over 55,000, and has facilitated S$45m in funding to date – spread across 75 deals. The company charges a facilitation fee of 3-5% of funds raised on the platform, which represents its primary revenue driver. CoAssets posted revenues $2.182m in FY2016, up from S$816,411 in the previous year.

Mr Goh’s vision for the future is simple enough: “Our mission is for CoAssets to become one of the most trusted and leading crowdfunding companies in Asia Pacific.”

 Watch the video interview of founder and CEO, Mr Getty Goh’s comments and thoughts about being listed on ASX.

To find out more about CoAssets and upcoming events, visit www.coassets.com

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