Japanese investors showed significant enthusiasm for shares in SpaceX’s recent public offering, subscribing more than 1 trillion yen, equivalent to about US$6.2 billion. The US-based company, recognized for its advances in rocket launch and satellite communications technology, has carried out the world’s largest ever public listing, successfully raising US$75 billion. Despite strong demand from Japan, investors in the country ultimately snapped up shares worth US$2.2 billion, according to recent filings.
Sources familiar with the offering, who requested anonymity because they were not authorized to speak publicly, revealed that the majority of that substantial demand originated from retail investors. The oversubscription rate seen in Japan was broadly consistent with global investor interest for Elon Musk’s innovation venture, which attracted US$250 billion in worldwide investor demand for a total offering of US$75 billion. This highlights a strong appetite in the markets for high-profile technology and space projects.
Mizuho Securities USA, the exclusive Japanese underwriter for the IPO and a division of Mizuho Financial Group, chose not to comment on the comprehensive scale of demand from Japanese investors. However, a Mizuho Securities spokeswoman revealed that an in-house survey indicated that more than 1,000 Japan-based users wished to allocate more than 100 million yen (about US$624,500), with some individual investors chasing more than 10 billion yen. The public offering was particularly notable for its unusually high allocation of up to 30% to retail investors. Strong interest was further evidenced by the significant increase in new Mizuho Securities account applications during the first third of June, which reached four times the average recorded over the previous 12 months.
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