TechFlow News, June 5: According to a Bloomberg report, sources familiar with the matter stated that underwriters for SpaceX’s approximately $75 billion initial public offering (IPO) have been instructed not to accept subscription orders from investors in mainland China and Hong Kong, due to U.S. restrictions on exports of critical technologies. The lead underwriting banks handling this transaction have further notified other banks in the underwriting syndicate that clients from mainland China and Hong Kong—including private banking clients—are prohibited from placing orders.
The report noted that this move is primarily driven by regulatory and compliance risk considerations, and such arrangements have not yet been publicly disclosed.
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