Key facts
- SpaceX's IPO has reportedly attracted over $70 billion in retail investor orders.
- Retail investors are expected to receive at least 20% of the IPO shares.
- BlackRock has placed a $5 billion order for SpaceX IPO shares.
- The IPO aims to raise $75 billion, making it the largest on record.
- SpaceX's target post-IPO valuation is $1.8 trillion.
- The order book closed Wednesday, with a Nasdaq listing planned for Friday.
SpaceX's potential Initial Public Offering (IPO) has reportedly attracted over $70 billion in orders from retail investors, with expectations that at least 20% of the shares will be allocated to them. Asset manager BlackRock has also sought to purchase a minimum of $5 billion in shares for the offering, according to reports.
The company is aiming to raise approximately $75 billion, which would make it the largest IPO on record, at an estimated valuation of $1.8 trillion. The order book for the IPO closed on Wednesday, and bankers are currently determining share allocations ahead of a planned Nasdaq listing on Friday.
Elon Musk has reportedly implemented several unconventional strategies for SpaceX's IPO, including prioritizing retail investors for allocations and structuring governance to maintain strong founder control. The company is also reportedly exploring ways to assess the financial capacity of individual investors. The offering's pricing was fixed ahead of time, which has reduced some of the typical volatility associated with such events, though the presence of retail investors is still expected to contribute to market fluctuations.