Tech · Explainer
Anthropic IPO Bars China, Hong Kong Buyers: Bloomberg
Some banks are refusing orders partly over US arms-export rules, even as demand reportedly reaches about six times the shares available.
Kunkafa News · Published · 2 min read
By Kareem FaridDiscuss with the author on X
Key points
- Some banks are refusing IPO orders from investors in mainland China and Hong Kong, Bloomberg reports.
- The order book is reportedly about six times subscribed despite the restrictions.
- Investors excluded from SpaceX’s offering bought shares after its listing, according to the same account.
Anthropic’s initial public offering is shutting out investors in mainland China and Hong Kong, Bloomberg reports, with some banks refusing their orders partly because of concerns over US arms-export rules. The restrictions come as the order book is reportedly about six times subscribed.
What the US rules cover
ITAR stands for the International Traffic in Arms Regulations. The US State Department says the framework governs exports, reexports, retransfers and temporary imports of defense articles and defense services on the US Munitions List [1].
Heavy demand, restricted access
Anthropic launched its roadshow on November 10 with a proposed offering of 825 million shares at $70–$78 each. The company said it had applied to list on the Nasdaq Global Select Market under the ticker ANT [2]. The reported sixfold demand concerns orders relative to the shares available, rather than a final allocation or a trading price.
SpaceX imposed similar restrictions, according to the same account, and affected investors bought shares after the company listed. The precedent shows how investors excluded from an IPO allocation can seek access through exchange trading after the debut.
Sources: Bloomberg; [1] US State Department, 1 October 2026 · [2] Anthropic, 10 November 2026.
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