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Shut out of the SpaceX IPO, Chinese investors get creative to catch a ride
Proxy stocks and supply chain speculation are among options after being locked out of what could be largest listing ever
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Wency Chenin ShanghaiPublished: 1:00pm, 10 Jun 2026Updated: 1:02pm, 10 Jun 2026
This is the first in a five‑part series on the global impact of SpaceX’s historic IPO, tracing how mainland Chinese investors’ strategies, the Hong Kong market and wider capital flows are being reshaped by Elon Musk’s trillion‑dollar rocket gamble.
Chinese investors are scrambling for back-door routes to trade on SpaceX’s highly anticipated initial public offering (IPO), resorting to proxy stocks and supply chain speculation after being shut out of direct participation in what could be the largest listing in history.
The frenzy surrounding Elon Musk’s rocket and satellite internet giant has triggered a wave of fear-of-missing-out among mainland Chinese investors. Blocked from buying the stock directly, they are chasing exposure through offshore accounts, A-share proxy stocks and broader commercial-space-themed investments.
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The hurdle is steep. SpaceX has barred investors in mainland China and Hong Kong from taking part in the IPO, citing regulatory and compliance concerns, Bloomberg News reported last week.
The company kicked off its marketing roadshow last week with shares priced at US$135 each, aiming for a valuation of about US$1.8 trillion ahead of its expected Nasdaq debut on Friday.
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Even seasoned cross-border traders are hitting a wall.
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