China's LandSpace and CAS Space Pursue IPOs Amid Reusable Rocket Advancements
Quick Look
- LandSpace Technology's IPO review was restored, seeking $1.1 billion for reusable rockets.
- CAS Space also plans to use IPO funds for similar projects.
- This follows China's successful sea recovery of a Long March-10B rocket, highlighting domestic advancements in reusable rocket technology.
AI-generated summary
Why It Matters
LandSpace Technology and CAS Space are Chinese companies focused on developing reusable rocket technology. Their IPOs are intended to fund these ambitious projects amidst significant domestic technical progress.
Meanwhile, LandSpace Technology – widely regarded as a challenger to SpaceX – had its initial public offering review status restored to “Inquired” in late June after submitting updated financial materials. It was suspended in late March because of expired financial data, while the company now seeks to raise 7.5 billion yuan (US$1.1 billion)
At the end of June, LandSpace officially announced that its Zhuque-3 reusable test rocket had completed a static fire test, where the engine’s performance is tested at full power without launching. Both LandSpace and CAS Space plan to channel their IPO proceeds directly into reusable rocket projects.
These developments come amid a major technical breakthrough in the domestic sector. On July 10, China successfully recovered the Long March-10B carrier rocket – developed by the state-owned China Aerospace Science and Technology Corporation (CASC) – at sea via a recovery platform.
Open Questions
- Will LandSpace and CAS Space successfully complete their IPOs?
- What is the timeline for their reusable rocket deployments?
