SpaceX IPO Raises Record $2.2 Billion in Japan Tranche
N.R. Finch
SpaceX raised $2.2 billion from Japanese investors in its IPO — the largest in Japan since JX Advanced Metals listed last year — while the $75 billion global offering drew over four times oversubscription, setting a world record.
How big was Japan's slice?
Japanese investors were allocated 16.3 million Class A shares, roughly 3% of the global offering.
The Japan tranche targeted $2–2.5 billion and landed at $2.2 billion, mid-range.
This means → a small share of the global deal, yet the largest Japanese IPO since JX Advanced Metals Corp. listed last year.
How hot was the global deal?
SpaceX priced at $135 per share, issuing 555.6 million shares for a global raise of $75 billion.
The book was oversubscribed by more than four times, a world-record IPO by size.
In plain terms = for every share on offer, buyers bid for more than four — demand far outstripped supply.
Why could Japanese retail investors subscribe directly?
Japan is the only Asian market that lets retail investors participate in the offering directly, alongside Australia, Canada, and parts of Europe.
Mizuho Financial Group led the Japan tranche; its U.S. investment-banking arm is one of 23 global underwriters.
Retail orders were funneled through Mizuho's local brokerage and online platforms including Rakuten Securities and SBI Securities.
What comes next?
Whether Japanese retail investors carry their enthusiasm into secondary-market trading is the first test of this record deal.
The $2.2 billion allocation must also prove large enough to sustain post-listing liquidity.
This means → the IPO subscription was only the opening act; the real verdict comes from trading volume and price action after listing.
Content is for reference only, not financial advice.