Tokyo Stock Exchange Introduces Enhanced Order Book Management for Axelspace Holdings’ Debut
Tokyo, Japan – August 12, 2025 – The Japan Exchange Group (JPX) announced today a significant update regarding the trading procedures for the upcoming initial public offering (IPO) of Axelspace Holdings Inc. on the Tokyo Stock Exchange (TSE). In a press release issued at 04:00 JST, JPX detailed the specific measures that will be implemented for the price discovery process on the listing day, aimed at ensuring a stable and orderly market for this highly anticipated debut.
Effective from the listing day of Axelspace Holdings Inc., the TSE will be applying a refined system of “circuit breakers” or “trading halts” during the period before the opening auction determines the first traded price. This enhanced mechanism is designed to manage potential volatility and facilitate a more robust price discovery process.
Specifically, the TSE will be employing a “Double Price Limit” (DPL) system for Axelspace Holdings Inc. on its first trading day. Under this system, if the indicative price, which is calculated based on buy and sell orders submitted by investors, moves beyond a certain threshold relative to the reference price, trading will be temporarily suspended. This initial suspension is triggered if the indicative price deviates by more than a specified percentage from the reference price.
Following this initial halt, a second, stricter price limit will be applied. If, after trading resumes, the indicative price continues to move beyond a narrower band around the reference price, a second, longer trading suspension will be initiated. This sequential approach allows for greater scrutiny and ensures that the market can absorb order flow more effectively, preventing rapid and potentially disruptive price swings.
The reference price for Axelspace Holdings Inc. will be determined based on the IPO subscription price. The specific percentages for these price limits are standard procedures for newly listed companies and are in place to promote fair and orderly trading.
This proactive measure by the Tokyo Stock Exchange underscores its commitment to maintaining market integrity and providing a conducive environment for investors participating in new listings. By implementing these enhanced mechanisms, the TSE aims to facilitate a smooth and transparent listing for Axelspace Holdings Inc., a company poised to make significant contributions to the Earth observation and space solutions sector.
Investors are advised to monitor the official JPX announcements for any further updates regarding the trading of Axelspace Holdings Inc. on its debut.
[東証]新規上場日の初値決定前の気配運用について：（株）アクセルスペースホールディングス
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日本取引所グループ published ‘[東証]新規上場日の初値決定前の気配運用について：（株）アクセルスペースホールディングス’ at 2025-08-12 04:00. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.