By Denny Jacob
American depositary receipts of Lead Real Estate jumped 8.5% to $5.32 following the close of its initial public offering.
The Japanese real estate developer on Friday closed its offering of about 1.1 million American depositary shares priced at $7 per ADS. Each ADS represents one ordinary share of the company.
Lead Real Estate received $8 million in gross proceeds before deducting underwriting discounts and offering expenses.
Lead Real Estate’s ADS began trading on the Nasdaq Global Market on Sept. 27 under the ticker LRE.
Write to Denny Jacob at [email protected]
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