LandSpace’s STAR Market IPO Application Accepted, Seeking Around USD 1.05 Billion to Bet on Reusable Rockets
Want to read in a language you're more familiar with?
LandSpace has taken a major step toward public markets, seeking RMB 7.5 billion on China’s STAR Market to scale up reusable rocket technology amid growing policy support for commercial space.
December 31 — According to disclosures published on the Shanghai Stock Exchange (SSE) website on Tuesday evening, LandSpace Technology Corporation has officially had its STAR Market (Sci-Tech Innovation Board) IPO application accepted.
LandSpace, a commercial aerospace company focused on the development of liquid oxygen–methane rocket engines and launch vehicles, plans to raise RMB 7.5 billion (approximately USD 1.05 billion). After deducting issuance expenses, all proceeds will be allocated to expanding production capacity and advancing technology for reusable launch vehicles.
The IPO comes amid a supportive policy backdrop. On December 26, the SSE released new guidance clarifying the applicability of the STAR Market’s fifth listing standard for commercial rocket companies, aiming to accelerate innovation in China’s commercial space sector. According to the prospectus, LandSpace has not yet reached profitability and is therefore applying under this fifth standard, which allows pre-profit companies with breakthrough core technologies and original, industry-leading innovations to go public—well aligned with the capital-intensive, long-cycle nature of the commercial space industry.
On the technology front, LandSpace has made notable recent progress. Public reports show that on December 3, its Zhuque-3 reusable launch vehicle successfully completed an orbital mission and carried out China’s first attempt at first-stage rocket recovery. The flight validated the rocket’s structural thermal protection and aerodynamic design during supersonic reentry and glide, while also testing a hybrid control system combining cold-gas reaction control and grid fins.
Through this IPO-driven capacity expansion, LandSpace aims to further accelerate the engineering validation and commercialization of its liquid oxygen–methane reusable rocket roadmap.
