SpaceX bars China, Hong Kong orders from $75 billion IPO
What's new: banks were told not to market the deal to investors in ITAR-restricted jurisdictions, including Russia, Lebanon, Cyprus and Syria.
SpaceX has barred investors in Hong Kong and mainland China from buying into its planned $75 billion initial public offering, narrowing access to what could become one of the biggest US listings ever. Underwriters were told not to accept orders from clients in those markets because of compliance and national security concerns tied to US International Traffic in Arms Regulations, according to people familiar with the matter cited by Bloomberg. A Citigroup memo reviewed by Bloomberg also told syndicate banks not to market the offering through wealth management or private banking channels to citizens of ITAR-restricted jurisdictions. SpaceX aims to start trading June 12 on Nasdaq, with about 550 million shares offered at $135 each, implying a valuation near $1.75 trillion.