Underwriters on SpaceX’s reported initial public offering were told not to accept orders from investors in Hong Kong and mainland China, according to people with knowledge of the matter.

The guidance cited US restrictions on exports of sensitive technology.

Goldman Sachs Group and Morgan Stanley, the lead banks on the deal, told other banks in the underwriting syndicate not to let customers in those markets, including private banking clients, place orders because of regulatory and compliance risks tied to the US International Traffic in Arms Regulations.

SpaceX’s website was also inaccessible from Hong Kong and Shanghai.

The caution comes as SpaceX expands its work on US national security contracts.

The US Space Force awarded SpaceX nine launch missions worth US$739 million in January 2026 for customers including the Space Development Agency and the National Reconnaissance Office.

The missions include missile-warning and tracking payloads, and classified reconnaissance satellites, highlighting how sensitive SpaceX’s business is.

🔗 Source: Bloomberg

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