Lead Real Estate Co. (NASDAQ: LRE) a Japanese real estate developer of luxury residential properties, including single-family homes and condominiums, across Tokyo and Kanagawa prefecture, has closed on its initial public offering; the offering consisted of 1,143,000 American Depositary Shares (“ADS”) at a price of $7 per ADS to the public, resulting in gross proceeds of approximately $8 million before the deduction of underwriting discounts and offering expenses. According to the announcement, each ADS represents one ordinary share of the company. The company has also granted a 45-day option to the underwriters to purchase up to 171,450 additional ADSs. The ADSs began trading on the NASDAQ on Sept. 27, 2023. EF Hutton, division of Benchmark Investments, LLC, and Boustead Securities, LLC acted as the joint book-running managers for the offering.
To view the full press release, visit https://ibn.fm/89iEm
About Lead Real Estate Co. Ltd
Lead Real Estate Co. is a Japanese developer of luxury residential properties, including single-family homes and condominiums, across Tokyo and Kanagawa prefecture. In addition, the company operates hotels in Tokyo and leases apartment building units to individual customers in Japan and Dallas, Texas. The company’s mission is to serve its customers by offering stylish, safe and luxurious living; its vision is to adopt the Kaizen (continuous improvement) approach to seek to improve its operations and leverage its nationally recognized, award-winning luxury homes and strong market position in the luxury residential property market in Tokyo and Kanagawa prefecture to create a global transaction platform allowing access to prime Japanese condominiums as well as overseas condominiums, including in the United States and Hong Kong. For more information about the company, please visit www.Lead-Real.co.jp/en.
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