Render of a MinoSpace satellite manufacturing base to be established in Wuxi City, Jiangsu province, eastern China. Credit: MinoSpace
HELSINKI — Chinese satellite maker MinoSpace has seen its initial public offering application accepted, seeking $736 million for constellation and product expansion plans.
MinoSpace’s initial public offering application to Shanghai’s STAR Market was accepted May 11, according to the Shanghai Stock Exchange’s disclosure system, with Chinese language media subsequently reporting the development.
The company plans to use the IPO as a platform to build phase one of the 112-satellite Taijing constellation, approved by the National Development and Reform Commission (NDRC), which will comprise a mix of optical, multispectral and synthetic aperture radar (SAR) satellites. Taijing satellites already launched include China’s first submeter-resolution commercial X-band and Ku-band SAR satellites.
The IPO prospectus lists defense entities among its customer categories. A separate section of the prospectus describing the remote sensing satellite industry notes military reconnaissance as one application alongside civilian uses.
