China’s GalaxySpace begins IPO process

GalaxySpace has begun preparations for a potential initial public offering (IPO), marking the latest move by a private space firm to tap China’s capital markets as Beijing accelerates its push in the space sector.

According to state media, the Beijing-based company has entered China’s “tutoring” phase — an early step in the IPO process where investment banks guide executives through regulatory and financial requirements ahead of a public listing, News.Az reports, citing Reuters.

GalaxySpace is a key player in the development of low-Earth orbit (LEO) satellites, a technology that has become a strategic priority for China. The country is aiming to expand its presence in satellite communications and compete with global leaders such as SpaceX and its Starlink network.

LEO satellites, which orbit closer to Earth, provide faster and more reliable communication services and have become increasingly important in both commercial and military contexts.

China has been ramping up support for private aerospace companies, including easing IPO rules to encourage fundraising. Earlier moves by firms like LandSpace highlight a broader trend as the country seeks to close the technological gap with the United States.

In recent months, GalaxySpace has worked with domestic rocket developers to launch dozens of satellites as part of China’s plan to build large-scale internet constellations in orbit. The company has also been expanding internationally, pursuing partnerships in markets such as Thailand.

The IPO push underscores China’s growing ambitions in the global space race, where satellite networks are increasingly seen as critical infrastructure for communication, security, and economic growth.

News.Az 

By Aysel Mammadzada