SpaceX's IPO process has drawn significant attention with over $70 billion in demand from individual investors. The company is on the verge of one of the largest IPOs in global capital market history.
It is reported that SpaceX aims to raise approximately $75 billion, potentially boosting its market value to around $1.8 trillion. If realized, this would surpass the record set by Saudi Arabia's oil company Aramco with its $29.4 billion IPO in 2019.
Rising Interest from Individual Investors
The report indicates that at least 20% of shares are expected to be allocated to individual investors. However, due to the high demand, many applicants may not receive the full amount they requested.
The company has also received demand from about a thousand institutional investors. No changes are expected in the IPO price or the number of shares to be issued, with a planned price of $135 per share and 555.6 million shares to be offered.
International Allocation and Nasdaq Listing Preparation
SpaceX is moving forward with allocating less than 10% of its shares to international investors, with Japan's allocation increased from the previous $2 billion to $2.5 billion. The company is expected to be listed on Nasdaq under the ticker "SPCX" once trading begins.
The IPO coincides with a period when major tech companies in artificial intelligence are also entering capital markets. OpenAI reportedly filed a confidential application this week, and Anthropic has taken similar steps.
According to Bloomberg estimates, SpaceX, OpenAI, and Anthropic together could add about $3.6 trillion in market value to US stock exchanges. This raises the possibility of a significant wave of IPOs in the technology sector not seen in a long time.
The transaction is being managed by a broad consortium of investment banks including Goldman Sachs, Morgan Stanley, Bank of America, Citi, and JPMorgan. The consortium reportedly includes 18 additional financial institutions.
