China, HK Investors Banned From SpaceX IPO on Security Grounds

Underwriters on SpaceX’s $75 billion initial public offering have been told not to accept orders from investors in Hong Kong and China, citing US restrictions around the export of critical technology, people with knowledge of the matter said.

The lead banks overseeing the deal have told other banks in the underwriting syndicate not to permit customers in Hong Kong and China, including private banking clients, to place orders for the offering due to regulatory and compliance risks, the people said, asking not to be identified as the matter is private.

The company’s decision to exclude investors from Hong Kong and ...