Key facts
- SpaceX boosted its Japanese IPO fundraising target by 25% to $2.5 billion.
- The company is offering between 14.8 million and 18.5 million Class A shares at $135 each.
- The overall IPO aims to raise about $75 billion, valuing SpaceX near $1.75 trillion.
- SpaceX will not receive fast entry into the S&P 500 due to not meeting GAAP profitability rules.
- Fidelity has lowered the minimum account requirement for US retail investors to access the IPO.
SpaceX is significantly increasing the fundraising target for the Japanese portion of its upcoming initial public offering, raising it by 25% to $2.5 billion, signaling strong demand from the country's retail investors. This move comes as Japan has experienced a scarcity of large-scale IPOs since 2018, making the SpaceX offering a highly anticipated event.
The company now aims to raise up to $2.5 billion from Japanese investors, an increase from the previously announced $2 billion target. The filing indicates that Japanese investors have been allocated between 14.8 million and 18.5 million Class A shares, with a preliminary price set at $135 per share. Mizuho Securities, Rakuten Securities, and SBI Securities are serving as local selling agents for this part of the offering.
This Japanese offering is part of SpaceX's larger IPO plan, which intends to sell approximately 555 million shares at $135 each, potentially raising around $75 billion. This would make it the largest stock market debut in history, surpassing Saudi Aramco's $29.4 billion IPO in 2019. The company is expected to begin trading on Nasdaq under the ticker SPCX on June 12, 2026, with a projected valuation between $1.75 trillion and $1.77 trillion.
In the United States, retail access has also been broadened, with Fidelity reducing the minimum account requirement to $2,000. SpaceX has reserved up to 30% of the offering for wider investor participation.
However, SpaceX will not be fast-tracked into the S&P 500 index. S&P Dow Jones Indices rejected an early inclusion path, citing the company's failure to meet GAAP profitability requirements, despite reporting $18.67 billion in revenue for 2025. The ruling means SpaceX may initially be included in broader indices like the S&P Total Market Index.