Bualuang Securities issues DR “SPACEX01” referencing SPCX shares, trading begins July 13.

Bualuang Securities has launched the "SPACEX01" Depositary Receipt (DR), referencing SpaceX (SPCX), a giant in space technology from the US stock market. This offers Thai investors access to investment in a leading private space company through their Thai stock accounts. Trading will commence on July 13th.

On July 10, 2569, Mr. Pichet Sittiamnuay, Managing Director of Bualuang Securities, as the issuer of the Depositary Receipt (DR) with the abbreviation ending in 01, revealed that the company is preparing to list the DR “SPACEX01” on the Stock Exchange of Thailand (SET) for the first time, opening the way for Thai investors to own shares in a world-class space business.

This instrument is based on shares of Space Exploration Technologies Corp. (SPCX), listed on the Nasdaq Stock Exchange. SPCX is one of the leading space technology companies, owning world-class innovations such as the Falcon and Starship rockets, the low-orbit satellite internet network under the Starlink project, and artificial intelligence technologies through its xAI ecosystem.

SPCX, founded by Elon Musk, is a leader in the space economy, holding over 80% of the market share since 2566. They pioneered reusable rocket technology, reducing launch costs by over 95%, and develop and manufacture almost all key technologies in-house, from rockets and satellites to software and communications infrastructure. With a mission success rate exceeding 99% across more than 650 launches, SPCX demonstrates a clear technological advantage over competitors.

Furthermore, SPCX has fully expanded into artificial intelligence (AI) infrastructure after merging with xAI, the developer of the Grok chatbot and the X social media platform, and acquiring Anysphere, an American startup developing an AI-powered cursor for approximately US$60,000 billion, in order to bridge the gap between space technology, communication, and AI.

Meanwhile, the Starlink project, with over 9,600 satellites, is a key growth engine for the company, expanding satellite internet services to remote areas in 164 countries worldwide. It currently has over 10 million global users, both home and business.

In terms of financial performance, SPCX projects revenue of $18,674 million in 2025 (based on SPCX's S-1 filing with the U.S. Securities and Exchange Commission (SEC)). The main revenue sources are from three business segments: space transportation, satellite internet (connectivity), which form a strong business foundation, and AI infrastructure, which, although currently experiencing heavy investment and losses, will be a key factor in building a competitive advantage in the long term.

The company plans to continue investing in developing a comprehensive space ecosystem, including Starships, expanding the Starlink network, extraterrestrial data centers, and launching AI computing satellites by 2571.

Mr. Pichet stated that the inclusion of SPCX shares in the Nasdaq 100 global technology stock index on July 7, 2569, is a significant development reflecting acceptance from the capital market and a supporting factor for the company's long-term growth, even though the share price may experience initial volatility.

Meanwhile, the global space economy is projected to continue expanding, driven by the growth of the space industry, which is no longer solely dependent on government funding but is rapidly expanding into the commercial sector. This makes the Space Economy a key new S-curve for the global economy in the long term. Therefore, DR “SPACEX01” will be another option for Thai investors to conveniently access SPCX stock investments through a Thai stock trading account.

Mr. Chaiporn Nompitakcharoen, Managing Director of Securities Trading at Bualuang Securities, added that currently, Thai investors are showing significant interest in Depositary Receipts (DRs) as a significant growth trend. This is because it offers a convenient and efficient investment option to diversify risk into future megatrend stocks through the Thai stock market, while receiving returns and benefits similar to investing directly in foreign securities. This is reflected in the total market capitalization of DRs across the Thai stock market, which stands at 66,719 million baht (data as of June 30, 2569).

Bualuang Securities remains committed to developing new DR (Depositary Receipt) products to enable Thai investors to easily stay abreast of global investment megatrends through investments in high-growth potential industries such as AI technology, semiconductors, clean energy, and the space economy—business sectors that will play a crucial role in the future growth of the global economy.

Currently, there are 50 securities issued by Bualuang Securities that are traded on the Thai stock exchange under the DR01 scheme. These securities cover investments in leading global stock indices, including those of the US, China, Hong Kong, Vietnam, India, and Japan, as well as leading common stocks in the US, Hong Kong, and European markets. Their total market capitalization is 17,889 million baht, representing approximately 26% of the entire DR industry market capitalization.

The DR “SPACEX01” will be listed on the Stock Exchange of Thailand on July 13, 2569, through a direct listing process, without the need for a pre-subscription like in an IPO.

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