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Astroscale to Go Public on Tokyo Stock Exchange in June

Astroscale has announced its intention to go public on the Tokyo Stock Exchange Growth Market, with trading set to commence on June 5.

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Zac Aubert

Zac Aubert

Wed May 01 2024Written by Zac Aubert

Astroscale has announced its intention to go public on the Tokyo Stock Exchange Growth Market, with trading set to commence on June 5.

The company, which filed for the initial public offering on May 1, is venturing into this significant move to tap into the capital markets for further expansion and development of its pioneering technologies. The IPO is anticipated to offer 20.8 million shares, though the share price remains undisclosed until May 27, as per the filings with the exchange. Astroscale's journey to this milestone has been fueled by substantial private investments, amounting to over $375 million, with notable contributions from Japanese investors, including a strategic backing from Mitsubishi Electric.

With a focus on addressing the escalating challenge of space debris and enhancing spacecraft servicing capabilities, Astroscale has garnered attention for its innovative approach. The decision to go public underscores its commitment to scaling up operations and meeting the growing demand for space sustainability solutions.

Headquartered in Tokyo, Astroscale operates globally, with offices in France, Israel, the United Kingdom, and the United States, reflecting its international reach and collaborative ethos. Among its flagship endeavors is the Active Debris Removal by Astroscale-Japan (ADRAS-J) mission, aimed at inspecting and eventually deorbiting a Japanese H-2A rocket's upper stage, serving as a testament to its operational prowess.

Financially, Astroscale has demonstrated remarkable growth, reporting a revenue of 1.79 billion yen ($11.3 million) in the fiscal year ending April 2023, nearly doubling from the previous year's figure of 910 million yen. However, the company also reported a net loss of 9.26 billion yen in the same period, indicative of the substantial investments required in this burgeoning sector.

The move to go public aligns Astroscale with a broader trend in the Japanese space industry, with it being the third company to debut on the stock exchange within a little over a year. This follows the footsteps of Lunar lander developer ispace and the Institute for Q-shu Pioneers of Space (iQPS), highlighting the increasing investor interest and support for space ventures in Japan.

In parallel with its IPO announcement, Astroscale revealed its selection by the Japanese space agency JAXA for the second phase of its Commercial Removal of Debris Demonstration (CRD2) program. This milestone underscores Astroscale's growing prominence in the sector, as it endeavors to tackle the critical challenge of space debris through technological innovation and strategic partnerships.