Space Exploration Technologies Corp, commonly known as SpaceX (SPCX.US), began trading on the Nasdaq Global Select Market and the Nasdaq Texas board on June 12, Eastern Time.

According to a regulatory filing, the company has raised $2.2 billion from Japanese investors. The rocket, satellite, and AI conglomerate allocated 16.3 million Class A shares for this Japanese offering, representing approximately 3% of the total global issuance. This transaction marks the largest new share issuance in the Japanese market since the IPO of JX Advanced Metals last year.

In documents submitted locally last week, SpaceX indicated its target was to raise between $2.0 billion and $2.5 billion from Japanese investors. Notably, Japan is the only country in Asia that permits retail investors to participate directly in the IPO subscription phase. Outside Japan, regions allowing direct retail allocation include Australia, Canada, and parts of Europe.

This arrangement was facilitated by robust local demand. In fact, SpaceX twice raised its fundraising target for the Japanese offering within two weeks. The initial upper limit was set at $2.0 billion, later increased to $2.5 billion due to sustained strong interest from Japanese retail investors, with the final amount raised settling at $2.2 billion.

Due to the strong demand, the book-building period for the offering was extended from the originally planned one week to a longer duration to accommodate subscription requests from the Japanese market.

The Japanese offering was executed by Mizuho Financial Group, whose U.S. investment banking arm was one of the 23 underwriters for this IPO. Mizuho processed investor subscription orders through its domestic brokerage subsidiary and online brokerages such as Rakuten Securities and SBI Securities.

SpaceX's global IPO raised a total of $75 billion by issuing 555.6 million shares at $135 per share. The offering is reported to have been oversubscribed by more than four times.

The global capital markets' high level of attention on this IPO is closely tied to SpaceX's diversified business portfolio covering rocket launches, satellite communications, and space transportation. The company has established a significant low-cost launch advantage through its reusable rocket technology and is currently the world's most frequent launch provider.

Within its operations, the Starlink satellite broadband internet service is SpaceX's most commercialized segment and a core asset underpinning its valuation. By March 31, 2026, Starlink had cumulatively launched over 9,600 satellites, accounting for approximately 75% of the world's active, maneuverable satellites. The service has about 10.3 million subscribers and covers 164 countries and regions globally.

Based on institutional forecasts projecting total revenue of around $34 billion for 2026, Starlink's revenue contribution is approaching the $20 billion level.

Furthermore, the ongoing development of SpaceX's next-generation Starship rocket system and its proposed space data center are viewed as incremental sources of value for the company's medium to long-term valuation. The Starship system is designed as the largest and fully reusable launch vehicle ever built, intended to deploy the next-generation V3 satellites, thereby further expanding Starlink's service capacity and coverage density.