Lead Real Estate, a luxury residential property developer in Japan, raised $8 million by offering 1.1 million ADSs at $7, the low end of the range of $7 to $9.
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 plans to list on the Nasdaq under the symbol LRE. EF Hutton and Boustead Securities acted as joint bookrunners on the deal.
