Libera Gaming Operations, Inc. (LBRJ) IPO – Price Range, Shares, Offer Amount & GMP Analysis
Updated: November 12, 2025 | Category: USA IPO GMP Tracker
Libera Gaming Operations, Inc. (LBRJ), a Japanese pachinko gaming operator, has filed for an IPO on the U.S. markets. The company plans to list on the NYSE American exchange, aiming to raise up to $6 million through the sale of 1.25 million shares. The offering highlights the company’s expansion ambitions and marks one of the few Japan-based gaming businesses seeking a U.S. listing.
IPO Summary Table
| Company Name | Libera Gaming Operations, Inc. |
| Ticker Symbol | LBRJ |
| Exchange | NYSE American |
| Shares Offered | 1,250,000 shares |
| Price Range | $4.00 – $6.00 per share |
| Offer Amount | Approx. $5–6 million |
| Expected Listing Date | November 21, 2025 (Tentative) |
| Status | Filed |
Company Overview
Libera Gaming Operations, Inc. operates a chain of pachinko halls across Japan — entertainment facilities that combine arcade-style play and gambling elements. The company’s core revenue comes from machine operations, gaming services, and hall management. Through its U.S. IPO, Libera aims to attract global investors and expand its presence in the leisure gaming industry.
Financial Snapshot
According to the company’s SEC Form F-1 filing, Libera Gaming reported revenue of approximately ¥6.1 million (≈ $41,000) in 2023, marking a decline from the previous year. The company remains small in scale but aims to leverage new capital for expansion and modernization of its pachinko facilities.
Use of IPO Proceeds
- Expansion and renovation of pachinko halls
- Working capital requirements
- General corporate purposes
Ownership and Control
Post-IPO, the company’s CEO and key insiders are expected to retain majority voting power — around 58% as per SEC disclosures — classifying Libera as a “controlled company.” This gives insiders significant influence over business decisions and corporate governance.
Key Risks for Investors
- Small revenue base: Libera’s total income remains minimal compared to peers.
- Regulatory risks: Japan’s gaming sector faces strict laws and shifting social norms.
- Liquidity risk: Small IPO size may result in limited post-listing trading volume.
- Concentrated ownership: Majority control by management reduces shareholder influence.
Grey Market Premium (GMP) for LBRJ IPO
Unlike Indian IPOs, the U.S. market does not have an official GMP system. However, investors track demand through:
- Changes in price range or share count in updated filings
- Pre-IPO interest reported by brokers like Webull or StockAnalysis
- Early aftermarket price movement once the IPO lists
As of November 12, 2025, no official GMP data is available for LBRJ. Traders can refer to the Nasdaq IPO page for any updated offer terms.
Official Resources
*Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should review the official SEC filings before making any financial decisions.*