Japan space startup Astroscale aims for June listing, sources say — TradingView News | Space

Space junk removal startup Astroscale is targeting a Tokyo listing as early as June, sources said, taking the high-profile venture public in a sector with out-of-this-world prospects and down-to-Earth risk.

The 11-year-old Japanese company spoke to overseas institutional investors in March to gather feedback before making a decision on a listing, said two people familiar with the matter, declining to be identified as the information is not public.

The lead managers are Mitsubishi UFJ Morgan Stanley Securities and Mizuho Securities, the people plus a third person said.

Founded by ex-government official Nobu Okada, Astroscale has won government backing in Japan, the U.S. and Britain as it develops technology to remove orbital junk such as disused satellites and spent rockets which are seen as a collision risk.

The firm considered going public last year but postponed due to factors including a mismatch over valuation, and may push it back again depending on investor feedback, one of the sources said.

Astroscale, which is also developing technology to extend the life of satellites, sees ispace 99348 as one reference for a potential valuation. The moon explorer listed last year and is worth around $450 million after a recent share slide.

Astroscale did not reply to requests for comment by email and phone. Mitsubishi UFJ Morgan Stanley Securities and Mizuho Securities declined to comment.

RISK TOLERANCE

The government is fostering its space sector with backing for startups as well as industry heavyweights like Mitsubishi Heavy Industries 7011, as it works with the U.S. and competes with China.

It aims to double the size of the domestic space sector to 8 trillion yen ($53 billion) by early next decade.

In listing, Astroscale would follow in the steps of ispace as well as satellite imaging firm Institute for Q-shu Pioneers of Space (iQPS) 55595, whose share price has risen more than 700% since its December initial public offering.

“Space startups are booming and will be popular…

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