By Stephen Nakrose
Lead Real Estate Co., Ltd., a luxury residential real estate developer, announced on Friday that it plans to offer 1.143 million American Depositary Shares in its IPO, down from a previously announced 2 million ADSs.
The company expects the IPO to cost between $7 and $9 per ADS. Each ADS represents one common share of the company, Lead Real Estate said.
The company said it is developing single-family homes and condos in Japan’s Tokyo and Kanagawa prefectures. It also operates hotels in Tokyo and rents out residential units in Tokyo and Dallas, Texas, it said.
Lead Real Estate said it has applied to list on the Nasdaq Global Market.
Network 1 Financial Securities, Inc. is listed as the underwriter of the offering.
Write to Stephen Nakrosis at [email protected]
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