The forecast IPO opening price for estie (エスティ) is ¥1,200. The indicative price range is ¥1,070–¥1,100, and the offering size is expected to be approximately ¥7.2 billion.
estie (エスティ) operates a real estate platform business built around a commercial real estate data platform containing proprietary data not available online. The IPO bookbuilding period is scheduled to run from 21 October to 27 October.
The indicative price range is set at ¥1,070 to ¥1,100, with the lower end equal to the assumed price of ¥1,070. The offering size is expected to be approximately ¥7.2 billion, with sales also planned in overseas markets. Existing shareholders are subject to lock-up arrangements, and conditions for releasing the lock-up on certain shares are also stated. Investors can participate in the IPO lottery without making an advance payment.
Although institutional investors' assessment is inferred not to have been poor as a factor behind the increase in estie's offering size, the fact that the IPO is an exit offering by a loss-making company is cited as a point to consider. The company's proprietary data is mainly used by major corporations, and sales are expected to grow rapidly. Mitsui Fudosan and Mitsubishi Estate are expected to make equity investments at the time of listing.
The forecast IPO opening price for estie is ¥1,200, based on an offer price of ¥1,100, with the current market valuation indicated to be in the ¥1,100–¥1,200 range. No investment recommendation is expressly stated in the article, which advises readers to make their own decisions about how to use the information.