Investor demand for SpaceX’s initial public offering (IPO) has significantly exceeded the planned issuance, reaching roughly four times the size of the offered amount, Reuters reported.
Citing sources familiar with the matter, the agency said total demand for the shares has surpassed $250 billion, while Elon Musk’s company is planning to raise around $75 billion through the public offering.
This strong interest, mainly driven by institutional investors, comes ahead of SpaceX’s expected stock market listing, which market analysts say could become the largest IPO in history.
During investor presentations, the company’s management outlined its plans for further development of space launch operations, as well as the expansion of its Starlink satellite internet network, which represents one of the key drivers of future growth.
However, sources note that these are preliminary indications of interest, and that final demand and share allocation may still change until the final pricing of the offering is set.
