Metros Development Co., Ltd. filed a Form F-1 registration statement for an initial public offering on 2024-07-16. It has amended it 4 times. It asked for the registration statement to be withdrawn on 2024-12-16. Each fact below is quoted from the filing named with it.
What the filings say
Listing
We have applied to list our common shares on The Nasdaq Capital Market (the “Nasdaq”) under the symbol “MTRS”.From the F-1/A filed 2024-11-22
Price range
We expect the initial public offering price to be between $5.50 and $6.50 per share.From the F-1/A filed 2024-11-22
Use of proceeds
We intend to use the net proceeds from this offering to fund property acquisitions, investment into technology stack and capabilities (including, but not limited to, developing a real estate crowdfunding platform and marketing the new real estate crowdfunding platform), human resources, and working capital and general corporate purposes, including, but not limited to, potential global expansion into new markets across North America and Asia-Pacific (APAC) through partnerships, joint ventures, strategic alliances and/or mergers and acquisitions.From the F-1/A filed 2024-11-22
Revenue
For the years ended November 30, 2023, 2022 and 2021, we reported revenues of $477,599,829, $472,858,985, and $309,378,119, respectively, net income of $39,367,996, $36,365,067, and $14,775,265, respectively, and net cash provided by operating activities to be $39,819,023 and net cash used in operating activities to be $45,665,390 and $29,758,668, respectively.From the F-1/A filed 2024-11-22
Net loss or income
For the years ended November 30, 2023, 2022 and 2021, we reported revenues of $477,599,829, $472,858,985, and $309,378,119, respectively, net income of $39,367,996, $36,365,067, and $14,775,265, respectively, and net cash provided by operating activities to be $39,819,023 and net cash used in operating activities to be $45,665,390 and $29,758,668, respectively.From the F-1/A filed 2024-11-22
Withdrawal
Pursuant to Rule 477 promulgated under the Securities Act of 1933, as amended (the “Securities Act”), Metros Development Co., Ltd. (the “Registrant”) hereby respectfully requests that the U.S. Securities and Exchange Commission (the “Commission”) consent to the withdrawal, effective as of the date hereof, of the Registrant’s Registration Statement on Form F-1 (File No. 333-280834), together with all exhibits and amendments thereto, initially filed to the Commission on July 16, 2024 (the “Registration Statement”).From the RW filed 2024-12-16
Timeline
| Filed | What it is | Filing |
|---|---|---|
| 2024-07-16 | Request to withdraw a registration (Form F-1) | RW |
| 2024-07-16 | Registration statement filed (foreign issuer) | F-1 |
| 2024-09-20 | Registration statement amended (foreign issuer) | F-1/A |
| 2024-10-28 | Registration statement amended (foreign issuer) | F-1/A |
| 2024-11-12 | Registration statement amended (foreign issuer) | F-1/A |
| 2024-11-22 | Registration statement amended (foreign issuer) | F-1/A |
| 2024-12-16 | Request to withdraw a registration (Form F-1) | RW |
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Where this comes from
A company that wants to sell shares to the public in the United States files a registration statement with the SEC: Form S-1 for a US company, Form F-1 for a foreign one. It amends that statement as the figures and terms are filled in, usually adding the expected price range shortly before the offering. Once the offering is priced it files its final prospectus under Rule 424(b)(4). A company that decides not to go ahead can ask for the registration statement to be withdrawn on Form RW.
Every row on this page is one of those filings, linked to the filing itself. The facts are the company's own sentences, quoted from the filing named beside each one and never reworded; where no filing states a fact in a sentence that can be read exactly, this page leaves it out. A filing is the company's statement of its plans and its figures, not a verification of them, and nothing here is investment advice.