Chinese space-AI tech hopeful Adaspace faces wary investors in Hong Kong IPO

Hong Kong is set to welcome its second aerospace-related listing this year, but persistent weakness in the initial public offering market has dampened investor appetite despite the relative rarity of space-tech offerings in the city. Major brokerages reported that Adaspace Technology, which aims to build AI computing facilities in space, had attracted only about HK$87 million (US$11.1 million) in margin financing orders, below the retail tranche target. The Sichuan-headquartered company launched...