A capital drama of unprecedented scale is about to take place. The IPO with a total scale of US$75 billion, known as the largest IPO project in human history, will officially land on Nasdaq on June 12. The protagonist is SpaceX, owned by Musk. This IPO is priced at US$135 per share, corresponding to the company's total valuation of US$1.77 trillion. This value not only surpasses Tesla, but is also only one step away from Apple.
As the core high-quality asset in Musk’s hands, the listing of SpaceX has attracted the attention of global capital.
At the New York road show, Wall Street investment banks are vying to connect business. Institutions such as Japan's Mizuho and Australia's Macquarie are actively vying for underwriter seats. Middle East sovereign funds are also eager to try. Capital from all over the world hopes to participate in this capital feast.
However, despite the excitement, all investors from mainland China and Hong Kong were completely blocked.
According to media sources, this IPO has comprehensive restrictions on mainland and Hong Kong investors. No matter they are ordinary individuals, investment institutions, or high-net-worth private banking clients with a minimum investment of tens of millions of dollars, they are not allowed to participate in the subscription.
Not only that, the official website of SpaceX also directly blocks the IPs of the two places. When local users access the page, they will only see the Error 1009 error report. They cannot even view the prospectus and road show materials, and it is impossible to participate in investment.
In response to this restriction, SpaceX explained that this move stems from regulatory and compliance requirements, and is corely subject to the U.S. International Traffic in Arms Regulations (ITAR).
Some netizens analyzed that many people mistakenly believe that this is Musk's personal decision, but in fact, from the underwriter's rejection of orders, the official website blocking IP, to cutting off private bank investment channels, the entire set of restrictive measures cannot be led by one person.
SpaceX's rocket, Starlink, StarShield and other businesses are all included in the scope of US military control, and the US has set up barriers out of long-arm jurisdiction risk considerations;
China has recently continued to tighten regulations related to cross-border securities. Under the tightening of two-way policies, the channels for mainland funds to participate in the IPOs of sensitive technology companies in the US stock market are becoming increasingly narrow.