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Japanese luxury property developer Lead Real Estate (NYSE:LRE) has filed to raise around $27M through an initial public offering on the US market.
Lead said in a filing that it is looking to offer 2M American Depositary Shares priced between $12 and $15 per ADS, which would raise approximately $27M if priced at the midpoint at $13.50.
The company intends to list its shares on Nasdaq under the symbol LRE. Network 1 Financial Securities is serving as lead bookrunner.
Lead is a developer of luxury condominiums and single-family homes in Japan. The company also operates hotels in Tokyo and leases apartment units in Japan and Dallas, Texas.
For the fiscal year ended June 30, 2021, Lead reported net income of $2.4M on revenue of $97.7M.
For more IPO news, check out SA’s IPO News page.
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Image and article originally from seekingalpha.com. Read the original article here.