Japanese property developer Lead Real Estate files for $27 million U.S. IPO, sets terms


Japanese luxury home developer Reed Real Estate filed with the SEC on Thursday to raise up to $27 million in an initial public offering.

The Tokyo, Japan-based company plans to raise $27 million by offering 2 million ADSs in the $12-$15 price range. At the midpoint of the proposed range, Lead Real Estate claims a market value of his $196 million.

Reed Real Estate is a developer of luxury homes such as detached houses and condominiums across Tokyo and Kanagawa prefectures. It also operates hotels in Tokyo and leases apartments to private customers in Japan and Dallas, Texas. The company derives its revenue primarily from the development and sale of single-family homes and condominiums, and has delivered over 1,000 single-family homes and over 25 of his condominiums since its inception.

Lead Real Estate was founded in 2001 and posted $120 million in revenue for the 12 months ended December 31, 2021. It will be listed on the Nasdaq under the symbol LRE. Network 1 Financial Securities is the sole bookrunner for this transaction.

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