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Japanese real estate company GATES GROUP files and sets terms for a $15 million US IPO

December 2, 2024
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GATES GROUP, which purchases and resells condominiums and solar power generation facilities in Japan, filed on Monday with the SEC to raise up to $15 million in an initial public offering.

The Tokyo, Japan-based company plans to raise $15 million by offering 2.5 million shares at a price range of $5.50 to $6.50. At the midpoint of the proposed range, GATES GROUP would command a fully diluted market value of $172 million.

GATES GROUP is a Japanese real estate company focused on the purchase and resale of, and provision of services to condominiums and solar power generation facilities. Its primary customers are real estate sales companies, as well as individual investors.

GATES GROUP was founded in 2018 and booked $127 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol GTSG. The company filed confidentially on August 19, 2024. Loop Capital Markets is the sole bookrunner on the deal.