Underwriters for SpaceX's $75 billion IPO have been told not to accept subscriptions from investors in mainland China and Hong Kong, Bloomberg reports. The ban stems from U.S. export controls on critical technologies, aimed at preventing capital penetration into sensitive sectors.
SpaceX, the most valuable private space company, operates Starlink and reusable rockets, both subject to ITAR and EAR regulations. The IPO's underwriting terms now explicitly exclude clients from these regions, including private banking accounts.
The lead underwriter has instructed syndicate banks to block such orders. While the arrangement isn't public, banks are already suspending related inquiries. SpaceX has not commented.
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