Franklin Templeton, managing nearly $1.7 trillion in assets, confirmed it will participate in SpaceX's upcoming initial public offering. CEO Jenny Johnson stated clients are excited about the innovation story, and the firm already has exposure to SpaceX through its growth equity funds.
Franklin Templeton's participation underscores the significant investor interest and perceived value in SpaceX's upcoming IPO, potentially setting a new benchmark for large-scale public debuts and signaling continued appetite for innovative companies.
Franklin Templeton, a major fund manager overseeing nearly $1.7 trillion in assets, has confirmed its intention to participate in the highly anticipated initial public offering of rocket maker SpaceX. CEO Jenny Johnson told CNBC that clients have been inquiring about the firm's involvement, highlighting the excitement surrounding the "sexy IPO" and its innovation story.
Johnson further elaborated that Franklin Templeton already holds exposure to SpaceX, having invested in late-stage private companies through its growth equity funds for over a decade. SpaceX is reportedly aiming to raise $75 billion at a valuation of approximately $1.8 trillion, with its debut scheduled for Friday. The company has already attracted more than $250 billion in investor demand, signaling a potentially record-breaking IPO. Discussions were also held with Saudi Arabia's Public Investment Fund for a potential $5 billion anchor stake.