SpaceX Valued at $1.8 Trillion in IPO
SpaceX’s initial public offering has attracted orders multiple times larger than shares available. Large long-only funds dominate the book and some investors sought $10 billion allocations. Banks plan to close order-taking midweek before pricing on June 11.
benzinga.comSpaceX’s IPO has drawn institutional demand for multiple times the shares on offer, according to people familiar with the matter. Large long-only funds account for most orders, and some investors placed bids for allocations of $10 billion or more. The offering is reported to be well oversubscribed.
The company’s valuation in the IPO is about $1.8 trillion, which would make the listing one of the largest ever completed.
Banks managing the sale intend to close order-taking midweek. Pricing is scheduled for June 11. The same people familiar with the deal said the level of interest has exceeded the number of shares available by a wide margin.
No other details on final share count or price range have been released. The transaction remains subject to standard regulatory approvals before trading can begin.
