Lead Real Estate Co., Ltd. (LRE) plans to raise $9 million in an initial public offering (IPO) on the week of September 11th, IPO Scoop reports. The company will be issuing 1,100,000 shares at $7.00-$9.00 per share.
In the last year, Lead Real Estate Co., Ltd. generated $105.5 million in revenue and $3.9 million in net income.
EF Hutton served as the underwriter for the IPO.
Lead Real Estate Co., Ltd. provided the following description of their company for its IPO: “(Note:Â This is an IPO of American Depositary Shares to be listed on the NASDAQ. Each ADS represents one ordinary share.)Â Â Â We seek to leverage our nationally recognized award-winning luxury homes and our 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 U.S. and Hong Kong. (Incorporated in Japan) We are a growing developer of luxury residential properties, including single-family homes and condominiums, across Tokyo and Kanagawa prefecture. In addition, we operate hotels in Tokyo and lease apartment buildingÂ units to individual customers in Japan and Dallas, Texas.Â We primarily generate revenue from developing and selling single-family homes and condominiums. Since our inception in 2001, we have delivered more than 1,000 single-family homes and 25 condominiums. The target customers of our single-family homes are wealthy family buyers who are looking for luxury single-family homes as their primary residence, while the target customers of our condominiums are institutional customers who look to purchase entire condominiums for investment purposes.Â In addition, we launched our interactive media platform,Â Glocaly, in October 2021, as a listing and marketing platform seeking to facilitate matching of sellers and buyers of condominiums.Â **Note: Revenue and net income figures are in U.S. dollars for the 12 months that ended June 30, 2022. (Note: Lead Real Estate Co. Ltd. revived its IPO, which had been postponed on March 30, 2023, in an F-1/A filing dated May 25, 2023, with the same terms as before: 1.14 million shares (1,143,000 shares) at $7.00 to $9.00 to raise $9.14 million. Lead Real Estate Co. Ltd. postponed its IPO on Thursday, March 30, 2023; the micro-cap IPO had been scheduled to price Thursday night to trade Friday, March 31, on the NASDAQ. Lead Real Estate Co., Ltd. switched underwriters – to EF Hutton from Network 1 Financial Securities – according to an F-1/A filing dated Feb. 28, 2023. Lead Real Estate Co. Ltd. cut its IPO to 1.14 million American Depositary Shares (1,143,000 ADS) –Â down from 2.0 million ADS – and kept the price range at $7.00 to $9.00 – to raise $9.14 million in an F-1/A filing dated Jan. 27, 2023. The IPO’s downsizing of nearly 43 percentÂ followed a delay in its pricing date; the micro-cap IPO had been scheduled for pricing on Jan. 25, 2023. Previously: Lead Real Estate Co. Ltd. cut the price range of its IPO in an F-1/A filing dated Jan. 4, 2023, to $7.00 to $9.00 – down from $12.00 to $15.00 – and kept the number of American Depositary Shares (ADS) at 2.0 million to raise $16.0 million – down from $27.0 million previously. Lead Real Estate Co., Ltd.’s IPO was previously on hold after the NASDAQ put approval of small-cap IPO listings on hold during the week of Sept. 19, 2022. Lead Real Estate Co., Ltd. had previously expected to price its IPO (American Depositary Shares) on Sept. 26, 2022, with a NASDAQ trade date of Sept. 30, 2022. Lead Real Estate Co., Ltd. filed its F-1 (prospectus) with terms included on Aug. 11, 2022. The company is known in Japan as Kabushiki Kaisha Lead Real Estate. The company filed confidential IPO documents with the SEC on April 7, 2022.) Â “.
Lead Real Estate Co., Ltd. was founded in 2001 and has 46 employees. The company is located at 6F, MFPR Shibuya Nanpeidai Building 16-11 Nampeidai-cho, Shibuya-ku Tokyo, 150-0036, Japan and can be reached via phone at +81 03-5784-5127 or on the web at http://www.lead-real.co.jp/en/.
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