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Japanese property developer Lead Real Estate files and sets terms for a $27 million US IPO

August 11, 2022

Lead Real Estate, a luxury residential property developer in Japan, filed on Thursday with the SEC to raise up to $27 million in an initial public offering.

The Tokyo, Japan-based company plans to raise $27 million by offering 2 million ADSs at a price range of $12 to $15. At the midpoint of the proposed range, Lead Real Estate would command a market value of $196 million.

Lead Real Estate is a developer of luxury residential properties, including single-family homes and condominiums, across Tokyo and Kanagawa prefecture. It also operates hotels in Tokyo and leases apartment building units to individual customers in Japan and Dallas, Texas. The company primarily generates revenue from developing and selling single-family homes and condominiums, and has delivered more than 1,000 single-family homes and 25 condominiums since inception.

Lead Real Estate was founded in 2001 and booked $120 million in revenue for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol LRE. Network 1 Financial Securities is the sole bookrunner on the deal.