China's LandSpace targets $1 billion IPO in reusable rocket tech push

China's rocket ‍startup LandSpace plans to raise 7.5 ⁠billion yuan ($1.07 billion) in a potential initial public offering to boost its ‌production ‌and technology for reusable rockets, according ‌to a document released by the Shanghai Stock Exchange.

The Shanghai bourse has accepted LandSpace's application to list on its tech-focused STAR Market, according to ‌its ‍website.

China's leading private ‍rocket firm, LandSpace became the first ‌Chinese entity to conduct a reusable rocket test earlier this month, as it geared up to compete with Elon Musk's SpaceX.


The ‍Shanghai exchange last week eased IPO rules for ‍Chinese ⁠companies developing ⁠reusable rockets, part of Beijing's efforts to close a gap in its space capabilities with the United States.

($1 = 6.9959 Chinese yuan renminbi)