LogProstyle, a real estate developer and property manager in Japan, filed on Friday with the SEC to raise up to $13 million in an initial public offering.
The Tokyo, Japan-based company plans to raise $13 million by offering 2.5 million shares at a price range of $4 to $6. At the midpoint of the proposed range, LogProstyle would command a market value of $121 million.
Through its subsidiaries, LogProstyle owns and operates a real estate renovation and resale company, a real estate development company, a hotel management company, and a restaurant management company. One of the key features of its business model is niche targeting, such as targeting affluent individuals and international customers in its renovation business, and families and international tourists in its hotel management business.
LogProstyle was founded in 2006 and booked $91 million in revenue for the 12 months ended March 31, 2024. It plans to list on either the Nasdaq or the NYSE American under the symbol LGPS. Spartan Capital Securities is the sole bookrunner on the deal.
