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🇸🇬 Singapore /Economy & Trade

Exclusive-SpaceX tells banks it won't move its $135-a-share IPO price

From CNA · () English

Summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • SpaceX has informed its banks that it intends to maintain its initial public offering (IPO) price at $135 per share.
  • This decision signals Elon Musk's determination to proceed with the IPO on his terms, potentially creating the largest-ever offering of its kind.
  • Investor demand for the IPO is reportedly very high, with analysts receiving numerous calls daily.

SpaceX has informed the banks underwriting its $75 billion initial public offering (IPO) that it is firm on its proposed share price of $135. This stance, disclosed in an amended IPO filing, suggests that Elon Musk is intent on shaping the largest-ever IPO according to his preferences, potentially deviating from traditional Wall Street practices. However, sources emphasize that this decision remains subject to change before the offering is finalized.

The company commenced its IPO roadshow on Thursday, engaging with potential investors. According to three sources familiar with the roadshow, demand for SpaceX shares has been described as "insatiable." Analysts involved in the IPO are reportedly fielding an exceptionally high volume of calls from interested investors, often exceeding 10 to 15 daily inquiries typical for sought-after offerings.

SpaceX's stock market debut is anticipated on Friday, June 12. The company itself did not immediately respond to requests for comment regarding the IPO pricing and roadshow developments.

DistantNews Editorial

Originally published by CNA. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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