Leifras (LFS) shares fell in their trading debut on Nasdaq Thursday after the Tokyo-based company priced its initial public offering of 1.25 million American Depositary Shares at $4 apiece.
The stock was down about 22% at $3.12 in recent trading after opening at $3.50.
The sports and social business firm granted its underwriters a 45-day option to buy up to 187,500 additional ADSs to cover over-allotments. The offering is expected to close Oct. 10.
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