Japan’s Ispace, which makes moon landers, has soared in its public market debut as investors bet on the startup’s prospects for supporting space development efforts.
Shares traded at ¥1,135 on Thursday in Tokyo, more than four times the ¥254 offering price. The stock was untraded Wednesday because of an imbalance between orders, though it was quoted at ¥585. Its market valuation reached almost $700 million.
The listing comes ahead of the arrival of the company’s first lunar lander, which was launched via a SpaceX Falcon 9 rocket in December carrying two rovers and other payloads. The Hakuto-R Mission 1 lander, which lifted off from Cape Canaveral Space Force Station in Florida following multiple delays, is scheduled to touch down on the moon as early as this month.