SpaceX blocks Chinese investors from IPO, shrinking the pool

SpaceX's IPO documents are off-limits to investors in Hong Kong and mainland China as of June 5, 2026, due to U.S. national security rules on defence contractors. That cuts out two of Asia's largest institutional capital pools from the offering, leaving North American and European buyers to drive demand for the $135-per-share target. Fewer buyers typically means softer pricing.