Japanese investors demonstrated significant enthusiasm for shares in SpaceX’s recent public offering, subscribing to more than 1 trillion yen, equivalent to approximately US$6.2 billion. The US-based company, recognised for its advancements in rocket launches and satellite communications technology, executed the world’s largest-ever public listing, successfully raising US$75 billion. Despite the robust demand from Japan, investors in the nation ultimately secured US$2.2 billion worth of shares, as indicated by a recent filing.
Sources familiar with the offering, who requested anonymity as they were not authorised to speak publicly, disclosed that the vast majority of this substantial demand originated from retail investors. The oversubscription rate observed in Japan was broadly consistent with the global investor interest for Elon Musk’s innovative enterprise, which collectively attracted US$250 billion in investor demand worldwide for the US$75 billion offering. This highlights a strong appetite across markets for high-profile technology and space ventures.
Mizuho Securities USA, the exclusive Japanese underwriter for the IPO and a division of Mizuho Financial Group, opted not to comment on the comprehensive scale of Japanese investor demand. However, a spokesperson for Mizuho Securities revealed that an in-house survey indicated over 1,000 Japan-based customers sought allocations exceeding 100 million yen (approximately US$624,500), with some individual investors pursuing more than 10 billion yen. The public offering was notable for reserving an unusually high allocation of up to 30% specifically for retail investors. The intense interest was further evidenced by a significant surge in new Mizuho Securities account applications during the first third of June, reaching four times the average recorded over the preceding 12 months.
