Tokyo, Japan, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Lead Real Estate Co., Ltd (the "Company," Expected Nasdaq Ticker Symbol: LRE), a growing Japanese real estate developer of luxury residential properties, including single-family homes and condominiums, across Tokyo and Kanagawa prefecture, today announced the pricing of its initial public offering (the "Offering") of 1,143,000 American Depositary Shares ("ADSs") at a public offering price of $7.00 per ADS for a total of $8,001,000 of gross proceeds to the Company, before deducting underwriting discounts and offering expenses. Each ADS represents one ordinary share of the Company.
The Company has granted a 45-day option to the underwriters to purchase up to 171,450 additional ADSs, representing 15% of the ADSs sold in this Offering, solely to cover over-allotments, if any, less the underwriting discount. The ADSs are expected to begin trading on the Nasdaq Global Market tomorrow, September 27, 2023, under the symbol "LRE." The Offering is expected to close on September 29, 2023, subject to customary closing conditions.
EF Hutton, division of Benchmark Investments, LLC, and Boustead Securities, LLC are acting as the joint book-running managers for the Offering.
A registration statement on Form F-1, as amended (File No. 333-266762) relating to the Offering was filed with the U.S. Securities and Exchange Commission (the "SEC") and was declared effective on September 26, 2023. The Offering is being made only by ...