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Astroscale goes public in Tokyo with heavily oversubscribed IPO

Written by: leah_seraphim

Japanese space debris removal company Astroscale Holdings (186A.T) rose 51% in their debut on Tokyo’s growth market today (Wednesday 5th June 2024).

The stock first traded at 1,281 yen per share, compared with an initial public offering (IPO) price of 850 yen, valuing the company at 145 billion yen ($934 million).

Nobu Okada, Astroscale’s chief executive said ‘ the listing is just a milestone, though a big step, of our long path to solve a global problem of space debris’

The company will increase investment in technology to remove space debris after the company’s shares surged on their debut in Tokyo.