Shares of Institute for Q-shu Pioneers of Space (iQPS) rose 82% in their Tokyo growth-market debut on Wednesday, after the satellite imagery startup raised ¥3.48 billion ($24 million) in an initial public offering (IPO).
The stock first traded at ¥860 after a nearly-five-hour trading delay due to a glut of buy orders, then faced heavy selling to end the session at the daily limit low of ¥710.
Spun off from a Kyushu University lab in 2005, iQPS becomes the second major space venture to list in Tokyo after ispace had a blistering debut in April.