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Leifras Co Ltd (NASDAQ:LFS) shares are trending on Wednesday. Check out the current price of LFS stock here. According to Benzinga Pro data, shares of the youth sports company surged 576.79% to close at $11.37 in regular trading on Tuesday. The stock carried the momentum into after-hours trading, climbing an additional 4.22% to $11.85. Nagoya Contract Fuels Rally On November 5, Leifras announced that it had won a contract for Regional Club Activity Facility Management and Operation Services from the City of Nagoya. Under the contract, Leifras began managing facilities at 111 municipal junior high schools for weekend community club activities in October. See Also: Why Did RYTHM (RYM) Stock Jump Over 23% Overnight? Recent IPO Context The stock began trading on October 9. The company closed its initial public offering on Oct. 10, selling 1.25 American Depositary Shares (ADS) at $4 per ADS on the Nasdaq Capital Market. With Kingswood Capital Partners acting as the underwriters’ representative, the offering brought in $5.0 million in gross proceeds before underwriting discounts and other offering expenses. Fund Allocation The proceeds will be used to hire full-time staff, acquire additional sports facilities, and support working capital needs for the company's sports school and social business operations. Stock Performance The stock of the Tokyo-based company has surged 208.13% over the past month and jumped 322.68% in the last five days. With a market capitalization of $297.45 million, the stock has a 52-week range of $1.58 to $12.49. Benzinga’s Edge Stock Rankings highlight LFS has a Value score of 71.08. Track the performance of other players in this segment. Read Next: Why Did Salarius (SLRX) Shares Soar Over 23% After-Hours? Photo Courtesy: Miha Creative on Shutterstock.com
