Strong demand for SpaceX IPO: placement already oversubscribed
Musk's company aims to raise 75 billion with a valuation close to 1.8 trillion
Investor interest in the SpaceX listing is so high that the group's initial public offering is already largely oversubscribed. In other words: demand would exceed the number of available shares. At least that is what Bloomberg reports, ahead of the IPO scheduled for this week.
According to sources, the banks coordinating the placement are expected to close the collection of orders from institutional investors in the evening of Wednesday 11 June, a few hours earlier than planned (while trading should start the next day, with the ticker SPCX) .
It should be remembered that SpaceX aims to raise around $75 billion through the sale of 555.6 million shares at a target price of $135 each. At these levels, the company would reach a valuation of around $1.8 trillion, a figure that would immediately place it among the most capitalised companies in the world.
If confirmed, the deal would become the largest IPO ever. The record, it should be recalled, currently belongs to Saudi Aramco, which raised $29.4 billion during its IPO debut in 2019.
One of the elements that is contributing to investor interest is the company's growing exposure to the artificial intelligence sector. In recent months, SpaceX has begun to make public a number of commercial agreements related to digital infrastructure and cloud services. Last Friday, the company announced an agreement with Alphabet that provides for payments of up to $920 million per month for services related to Gemini's AI ecosystem until 2029. Previously, an agreement with Anthropic was also announced.
