Tokyo, Japan & Irvine, CA – September 27, 2023 – Boustead Securities, LLC (“Boustead”) IPO client Lead Real Estate Co., Ltd (the “Company,” Expected Nasdaq Ticker Symbol: LRE), a growing Japanese real estate developer of luxury residential properties, including single-family homes and condominiums, across Tokyo and Kanagawa prefecture, today announced the pricing of its initial public offering (the “Offering”) of 1,143,000 American Depositary Shares (“ADSs”) at a public offering price of $7.00 per ADS 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 are expected to begin trading on the Nasdaq Global Market tomorrow, September 27, 2023, under the symbol "LRE." The Offering is expected to close on September 29, 2023, subject to customary closing conditions.
EF Hutton, division of Benchmark Investments, LLC, and Boustead Securities, LLC are acting as the joint book-running managers for the Offering.
A registration statement on Form F-1, as amended (File No. 333-266762) relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) and was declared effective on September 26, 2023. The Offering is being made only by means of a prospectus, forming part of the effective registration statement. A copy of the final prospectus related to the offering may be obtained, when available, from EF Hutton, division of Benchmark Investments, LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@efhuttongroup.com or telephone at (212) 404-7002. In addition, a copy of the final prospectus, when available, relating to the Offering may be obtained via the SEC's website at www.sec.gov.
About Boustead Securities, LLC
Boustead Securities, LLC is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority-owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information visit please visit: www.boustead1828.com
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