Lead real estate co., ltd announces closing of initial public offering

Tokyo, japan, sept. 29, 2023 (globe newswire) -- lead real estate co., ltd  ( the “company,”  nasdaq: lre), a japanese real estate developer of luxury residential properties, including single-family homes and condominiums, across tokyo and kanagawa prefecture, announced today the closing of its previously announced initial public offering (the “offering”) of 1,143,000 american depositary shares (“adss”) at a price of $7.00 per ads to the public for a total of $8,001,000 of gross proceeds to the company, before deducting underwriting discounts and offering expenses. each ads represents one ordinary share of the company. the company has granted a 45-day option to the underwriters to purchase up to 171,450 additional adss, representing 15% of the adss sold in this offering, solely to cover over-allotments, if any, less the underwriting discount. the adss began trading on the nasdaq global market on september 27, 2023 under the symbol "lre."
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