SYLA Technologies, a Japanese real estate developer expanding into fintech, solar, and crypto, announced terms for its IPO on Tuesday.
The Tokyo, Japan-based company plans to raise $15 million by offering 1.9 million ADSs at $8. At the proposed price, SYLA Technologies would command a fully diluted market value of $243 million.
SYLA Technologies operates an online real estate platform, constructs and sells solar power plants, manufactures and sells crypto mining machines, operates an asset management platform, and manages real estate. The company conducts its operations through its four subsidiaries: SYLA Co., SYLA Solar, SYLA Brain, and SYLA Biotech.
SYLA Technologies was founded in 2009 and booked $140 million in revenue for the 12 months ended June 30, 2022. It plans to list on either the Nasdaq or the NYSE American under the symbol SYT. Boustead Securities is the sole bookrunner on the deal.
