SpaceX IPO said to be more than 4 times oversubscribed
SpaceX’s initial public offering has seen demand exceed available shares by over four times, with orders closing on June 10 and the IPO pricing at $135 per share on June 11. The offering, valued at $1.8 trillion, is expected to surpass Saudi Aramco’s 2019 debut as the largest ever, with Goldman Sachs and other major banks leading the deal.
SpaceX’s initial public offering (IPO) has attracted demand more than four times the available shares, according to sources familiar with the matter. The company, led by Elon Musk, will stop taking orders from institutional investors after New York’s market closes at 4 p.m. on June 10. The IPO is set to price at $135 per share on June 11, with shares trading the following day. SpaceX is offering 555.6 million shares, raising approximately $75 billion and valuing the company at around $1.8 trillion. Details could still change as orders remain open. If fully realized, this IPO would surpass Saudi Aramco’s $29.4 billion debut in 2019, marking the largest ever. The listing will occur on Nasdaq and Nasdaq Texas under the ticker symbol SPCX. Goldman Sachs, Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase are leading the deal, with 18 other banks participating. SpaceX, formally known as Space Exploration Technologies Corp., operates in rocket, satellite, and artificial intelligence sectors. Its xAI division competes with OpenAI, which filed confidentially for a listing on June 8. Together, SpaceX, OpenAI, and Anthropic PBC could add $3.6 trillion in market value to U.S. exchanges, per Bloomberg calculations. No immediate comment was provided by SpaceX in response to a request for clarification.
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