WASHINGTON (dpa-AFX) - Lead Real Estate Co., Ltd (LRE) said that it has priced its initial public offering of 1.14 million American Depositary Shares or 'ADSs' at a public offering price of $7.00 per ADS for a total of about $8.00 million 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 the 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.
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