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SpaceX IPO Overshadowed by Asian Market Frenzy
12 Jun
Summary
- SpaceX IPO received over $100 billion in retail orders.
- Chinese chipmaker MetaX IPO drew $444 billion in bids.
- US tech export restrictions barred China and Hong Kong investors.
SpaceX's landmark initial public offering, the largest ever, has been overshadowed by the immense retail investor demand seen in Asian markets. The rocket, satellite, and artificial-intelligence company received over $100 billion in retail investor orders, a significant sum by most measures. However, this figure is considerably less than recent IPOs in mainland China and Hong Kong.
In Shanghai, the MetaX Integrated Circuits IPO in late 2025 attracted approximately $444 billion in bids from retail investors. Similarly, Hong Kong's Mixue Group IPO last year garnered over $230 billion in retail orders. This intense interest in Asian IPOs is driven by strong first-day gains, often guaranteed by regulatory measures, and the widespread use of margin loans and fear of missing out on the next big tech companies.
SpaceX's IPO was not accessible to investors in mainland China and Hong Kong due to US restrictions on the export of critical technology. Meanwhile, Hong Kong's maiden share sales are projected to exceed $43 billion this year, marking a six-year high, with many companies in the artificial intelligence supply chain leading the listings.
