Japanese IPO Lockups: The 1.5x Release Rule
One US listing traced against a flat line at 1.5x its offer priceseries ·
2026-08-07 · 82×3
Share of US listings trading at 1.5x their offer price, by day since listingranking ·
2026-08-07 · 19×2
US listings clearing 1.5x the offer price on the first close, by listing yearranking ·
2026-08-07 · 8×4
One US listing traced against a flat line at 1.5x its offer price
One US listing traced against a flat line at 1.5x its offer price
| date | close_usd | trigger_1_5x |
|---|---|---|
| 2024-03-21 | 50.44 | 51 |
| 2024-03-22 | 46 | 51 |
| 2024-03-25 | 59.8 | 51 |
| 2024-03-26 | 65.11 | 51 |
| 2024-03-27 | 57.75 | 51 |
| 2024-03-28 | 49.32 | 51 |
| 2024-04-01 | 45.97 | 51 |
| 2024-04-02 | 50.45 | 51 |
| 2024-04-03 | 46.99 | 51 |
| 2024-04-04 | 45.78 | 51 |
| 2024-04-05 | 47.56 | 51 |
| 2024-04-08 | 46.15 | 51 |
| 2024-04-09 | 45 | 51 |
| 2024-04-10 | 42.09 | 51 |
| 2024-04-11 | 44.53 | 51 |
| 2024-04-12 | 42.27 | 51 |
| 2024-04-15 | 40 | 51 |
| 2024-04-16 | 41.14 | 51 |
| 2024-04-17 | 39.17 | 51 |
| 2024-04-18 | 41.72 | 51 |
| 2024-04-19 | 40.88 | 51 |
| 2024-04-22 | 42.04 | 51 |
| 2024-04-23 | 42.82 | 51 |
| 2024-04-24 | 43.15 | 51 |
| 2024-04-25 | 42.45 | 51 |
| 2024-04-26 | 45.43 | 51 |
| 2024-04-29 | 46.28 | 51 |
| 2024-04-30 | 44.44 | 51 |
| 2024-05-01 | 45.88 | 51 |
| 2024-05-02 | 47.7 | 51 |
| 2024-05-03 | 46.64 | 51 |
| 2024-05-06 | 48.27 | 51 |
| 2024-05-07 | 49.4 | 51 |
| 2024-05-08 | 51.4 | 51 |
| 2024-05-09 | 50.11 | 51 |
| 2024-05-10 | 53.53 | 51 |
| 2024-05-13 | 58.19 | 51 |
| 2024-05-14 | 62.34 | 51 |
| 2024-05-15 | 59.63 | 51 |
| 2024-05-16 | 56.38 | 51 |
| 2024-05-17 | 62.04 | 51 |
| 2024-05-20 | 61.22 | 51 |
| 2024-05-21 | 59.31 | 51 |
| 2024-05-22 | 56.69 | 51 |
| 2024-05-23 | 54.16 | 51 |
| 2024-05-24 | 54.72 | 51 |
| 2024-05-28 | 58.49 | 51 |
| 2024-05-29 | 57.64 | 51 |
| 2024-05-30 | 56.3 | 51 |
| 2024-05-31 | 54.24 | 51 |
| 2024-06-03 | 55.8 | 51 |
| 2024-06-04 | 54.5 | 51 |
| 2024-06-05 | 60.07 | 51 |
| 2024-06-06 | 63.46 | 51 |
| 2024-06-07 | 59.8 | 51 |
| 2024-06-10 | 59.63 | 51 |
| 2024-06-11 | 61.55 | 51 |
| 2024-06-12 | 65.93 | 51 |
| 2024-06-13 | 63.96 | 51 |
| 2024-06-14 | 60.94 | 51 |
| 2024-06-17 | 60.35 | 51 |
| 2024-06-18 | 60.21 | 51 |
| 2024-06-20 | 57.42 | 51 |
| 2024-06-21 | 57.3 | 51 |
| 2024-06-24 | 56.48 | 51 |
| 2024-06-25 | 61.38 | 51 |
| 2024-06-26 | 63.61 | 51 |
| 2024-06-27 | 63.58 | 51 |
| 2024-06-28 | 63.89 | 51 |
| 2024-07-01 | 66.59 | 51 |
| 2024-07-02 | 73.51 | 51 |
| 2024-07-03 | 73.62 | 51 |
| 2024-07-05 | 72.97 | 51 |
| 2024-07-08 | 72.81 | 51 |
| 2024-07-09 | 70.59 | 51 |
| 2024-07-10 | 69.4 | 51 |
| 2024-07-11 | 70.29 | 51 |
| 2024-07-12 | 73.85 | 51 |
| 2024-07-15 | 72.98 | 51 |
| 2024-07-16 | 70.44 | 51 |
| 2024-07-17 | 65.21 | 51 |
| 2024-07-18 | 65.92 | 51 |
the exact SQL behind every number
WITH offer AS
(
SELECT
min(listing_date) AS listed_on,
toFloat64(max(final_issue_price)) AS offer_price
FROM global_markets.stocks_ipos
WHERE ticker = 'RDDT'
AND final_issue_price > 0
)
SELECT
toString(d.date) AS date,
round(toFloat64(d.close), 2) AS close_usd,
round(o.offer_price * 1.5, 2) AS trigger_1_5x
FROM
(
SELECT date, close
FROM global_markets.stocks_daily_aggs
WHERE ticker = 'RDDT'
AND date >= '2024-01-01'
AND date < '2025-01-01'
) AS d
CROSS JOIN offer AS o
WHERE d.date >= o.listed_on
AND d.date < o.listed_on + 120
ORDER BY d.date
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