Shares of space- and defense-technology company Voyager Technologies climbed in their New York Stock Exchange debut, another sign of an improving market for initial public offerings.

(Reuters) -Starlab Space Station developer Voyager Technologies secured a valuation of $3.8 billion after its shares surged 125% in their New York debut on Wednesday, signalling strong interest in the defense and space sector that is expected to thrive under the Trump administration.

Shares of Voyager Technologies, a space and defense tech company that counts Palantir and NASA among its customers and partners, soared in their first day of trading.