The microcap IPO flow remains slow but steady after Labor Day weekend, with five companies on September’s calendar.
This week, the companies on the calendar include robotics facilities management, a Hong Kong holding company, an esporting and events platform, a luxury real estate developer in Japan, and a Los Angeles specialty grocer.
Luxury Real Estate in Japan and Beyond
Lead Real Estate (LRE) has an estimated IPO date of Sept. 8, intending to raise about $9 million at about a $109 million market cap. Founded in 2001 and based in Japan, Lead Real Estate is a luxury residential property developer across Tokyo and Kanagawa. The company also operates Tokyo hotels and leases apartment building units to individuals in Japan and Dallas, Texas.
Lead Real Estate earns most of its revenue from developing and selling single-family residences and has delivered over 1,000 single-family homes and 25 condominiums since opening its doors. The company booked $110 million in revenue for the year ended June 30, 2022. The sole bookrunner on this deal is Network 1 Financial Securities.
Updated Estimated IPO Dates
Simpple (SPPL) had an estimated IPO date of Aug. 18, aiming to raise almost $9 million at about an $89 million market cap, then had an estimated IPO date of Aug. 22, seeking to raise more than $9 million at around a $92 million market cap, and then Aug. 29, looking to raise over $9 million at an almost $93 million market cap. Now, the company has an estimated IPO date of Sept. 6, still intending to raise more than $9 million at a nearly $93 million market cap.
Solowin Holdings (SWIN) had estimated IPO dates of Aug. 11, Aug. 16, Aug. 24, and Sept. 1, seeking to raise almost $13 million at a nearly $73 million market cap. The company now has an estimated IPO date of Sept. 6, still intending to raise about $13 million at almost a $73 million market cap.
Gamer Pakistan (GPAK) had estimated IPO dates of Aug. 10, Aug. 23, and Sept. 6, seeking to raise almost $8 million at about a $115 million market cap. Now, the company has an estimated IPO date of Sept. 8, still aiming to raise nearly $8 million at around a $115 million market cap.
Maison Solutions (MSS) had estimated IPO dates of June 14, July 14, Aug. 15, Aug. 24, and Aug. 21, looking to raise $15 million at a $79 million market cap. Now, the company has an estimated IPO date of Sept. 8 and still aims to raise $15 million at a $79 million market cap.
