(Image courtesy of the Lead-Real Estate website.)
On September 27, 2023, LEAD-REAL ESTATE CO., LTD, a company specializing in the planning and development of luxury condominiums, luxury apartments, and luxury single-building residences, was listed on the Nasdaq Global Market. (Source: Company Press Release)
Lead-Real Estate’s Path to Nasdaq Listing
The first confidential filing as a Draft Registration Statement (DRS) was submitted on April 8, 2022. When the Form F-1 was officially filed publicly on August 11, 2022, it was filed with financial statements for the fiscal years ended June 2021 and 2020.
After several amendments, the F-1 filed on January 4, 2023, was updated to the fiscal years ended June 2022 and 2021. Furthermore, semi-annual financial statements (FS) were added in May 2023. Just before the expiration date at the end of September 2023, the F-1 was declared effective on September 26, and the stock was priced and listed on September 27.
Lead-Real Estate Lists ADRs on the Global Market
The market the company listed on is the Nasdaq Global Market.
Nasdaq actually has three market tiers. For more details on this topic, please refer to the following article:
https://quantum.accountants/ja/usipo_series4/
It should be noted that Lead-Real Estate did not list via a merger with a Special Purpose Acquisition Company (SPAC) (a De-SPAC), but rather achieved an ADR listing for the company itself.
The team for Lead-Real Estate’s Nasdaq listing was as follows:
- Underwriter: Network 1 Financial Securities, Inc.
- Counsel: Hunter Taubman Fischer & Li LLC
- Auditor: BF Borgers
We have summarized the recent movements of Japanese companies concerning Nasdaq IPOs in the following article:
https://quantum.accountants/ja/recent-ipos-of-japanese-companies-on-nasdaq/
Company Profile
- Company Name: LEAD-REAL ESTATE CO., LTD
- Head Office: MFPR Shibuya Nanpeidai Bldg. 6F, 16-11 Nanpeidai-cho, Shibuya-ku, Tokyo
- Representative: Eiji Nagahara, Representative Director
- Established: November 2003
- Capital: 200,000 thousand JPY
- Fiscal Year-End: December 31
- Business Description: Real estate and peripheral businesses
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