Chinese private rocket company LandSpace Technology has received the green light to list on Shanghai’s STAR Market, marking a potential first for China’s fledgling commercial space sector, reports Caixin. The company aims to raise RMB 7.5 billion ($1.1 billion) through the offering.
According to a stock exchange filing, the Shanghai bourse accepted LandSpace’s listing application on December 31, just days after Chinese regulators clarified IPO rules for unprofitable tech firms in high-priority sectors. LandSpace is among several domestic space startups racing to go public, including CAS Space, Space Pioneer, and Galactic Energy, all preparing for domestic listings.
The IPO scramble underscores Beijing’s push to foster a competitive commercial space industry, vital for building large-scale satellite networks and countering rivals like SpaceX. With orbital slots and radio spectrum allocated on a first-come, first-served basis, urgency is mounting to develop cost-effective, reusable launch vehicles.