Japanese real estate company GATES GROUP (GTSG.US) applies to go public in the United States with plans to raise $15 million.

Japanese real estate company GATES GROUP submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) on Monday. The Tokyo-based company plans to issue 2.5 million shares of stock at a price of $5.50 to $6.50 per share, raising $15 million. Based on the midpoint of the proposed price range, GATES GROUP would have a fully diluted market value of $172 million. GATES GROUP is a Japanese real estate company focused on purchasing and reselling apartments and CECEP Solar Energy power generation facilities, as well as providing services. Its main customers are real estate sales companies and individual investors. Founded in 2018, GATES GROUP had revenue of $127 million for the 12 months ending June 30, 2024. The company plans to list on Nasdaq under the stock symbol "GTSG". Loop Capital Markets is the sole book-running manager for this transaction.