SpaceX IPO sparks Asia rush for proxy stocks linked to Elon Musk firm

SpaceX’s planned $75 billion initial public offering has triggered a surge of investor interest across Asia in companies seen as indirect beneficiaries of the Elon Musk-led rocket firm, as traders seek exposure through suppliers and space-related funds.

The listing has fueled demand for satellite, aerospace and ETF products tied to SpaceX’s supply chain, with gains recorded in firms linked to Starlink components and rocket manufacturing, while retail investors in parts of Asia face restrictions on direct IPO participation, News.Az reports, citing Reuters.

With access to the offering limited in several markets, investors have turned to regional “proxy” plays, including Chinese suppliers such as Sunway Communication and Western Superconducting Technologies, which are associated with Starlink terminals and aerospace materials. Shenzhen-listed Lens Technology has also climbed sharply this year after signaling space-related growth opportunities.

Investor enthusiasm has also spread to Europe, where satellite operators Eutelsat, OHB and SES have posted gains, alongside a rise in space-focused exchange-traded funds. Some funds, including Tema Space Innovators ETF and leveraged products tied to Firefly Aerospace, have attracted speculative inflows.

Analysts say the trend is largely driven by retail investors, while institutional participation remains limited. Market strategists note that interest in SpaceX-linked assets is being shaped more by sentiment and narrative than direct fundamentals, though some expect supply-chain firms in Asia, particularly in Taiwan and Japan, to benefit from future expansion in capital spending linked to the company.

News.Az 

By Leyla Şirinova