The stock’s initial trading price of 1,281 yen per share far exceeded its IPO price of 850 yen, valuing the company at a substantial 145 billion yen ($934 million).
Astroscale Holdings made a spectacular entrance onto Tokyo’s growth market, with shares rising sharply by 51% on the first day of trading. Initially priced at 850 yen per share, the stock debuted at 1,281 yen, boosting the company’s valuation to 145 billion yen ($934 million). This remarkable debut highlights the market’s confidence in Astroscale’s mission to tackle the increasing problem of space debris.
Nobu Okada, CEO of Astroscale, described the listing as a significant milestone in their journey to address the growing issue of orbital debris. With government support from Japan, the United States, and Britain, Astroscale is developing innovative technology to remove dangerous space junk and extend the life of satellites.
Astroscale’s promising orbital rendezvous technology and commercial potential beyond public sector clients attracted strong investor interest, with demand reportedly 30 times higher than the offer size. This overwhelming response led the company to sell 12.49 million shares in Japan and 9.68 million shares overseas, excluding a greenshoe option of 3.12 million shares for additional demand.
Despite operating at a consolidated loss of 9.2 billion yen in the fiscal year ending April 2023, the company remains optimistic. Chief Financial Officer Nobuhiro Matsuyama, however, did not specify when profitability is expected.
Astroscale follows the footsteps of other pioneering Japanese space firms like moon explorer ispace and radar satellite maker iQPS, both of which went public last year.
