SpaceX plans to raise $US75 billion in IPO, source says
SpaceX plans to raise US$75 billion ($105 billion) in its initial public offering by selling 555.6 million shares with a target price of US$135 ($188) per share, a source familiar with the matter told Reuters.
Reuters reported earlier on Tuesday that the rocket and satellite communications company hoped to raise at least US$75 billion ($105 billion) at a US$1.75 trillion ($2.44 trillion) valuation.
The listing ushers in a wave of high-profile private companies poised to test public markets after years of large-scale IPO activity; SpaceX is seen as one of the most important offerings in recent history, along with artificial intelligence giants OpenAI and Anthropic.
The company’s valuation is based on technologies that SpaceX dominates, from Mars missions to artificial intelligence data centers in space, and markets that don’t yet exist.
The specific target price is highly unusual at this stage because companies planning to go public typically set a price range in a series of presentations called a roadshow before talking to investors. SpaceX’s roadshow begins Thursday.
Usually a specific target price is not set until the day before the exit.
The roadshow, expected to be one of the most closely watched IPO marketing rounds in recent years, will allow potential investors to meet with SpaceX executives as investment bankers try to build demand for the record-breaking US$75 billion ($105 billion) order book.
Reuters had previously reported that the company was considering allocating 30 percent of the offering to retail investors; it’s an unusually large retail slice aimed at capitalizing on Elon Musk’s cult-like following and expanding his ownership of the company.
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