New Delhi: Elon Musk’s SpaceX is aiming to list its shares on the Nasdaq as early as June 12, Reuters reported, in what could be the biggest stock market
flotation of all time. The company is targeting a raise of about $75 billion at a valuation of roughly $1.75 trillion, a massive step up from the $1.25 trillion combined valuation set when SpaceX merged with Musk’s artificial intelligence startup xAI in February.
The listing is one of the most anticipated IPOs in years and is expected to headline a crowded IPO calendar that could also include AI heavyweights Anthropic and OpenAI, both of which are expected to tap public markets this year.
SpaceX IPO timeline and ticker
SpaceX has accelerated its IPO timeline, with the company now aiming to make its prospectus public within days, a roadshow launch targeted for June 4 and the share sale as early as June 11, Reuters reported. The company will trade under the ticker SPCX on the Nasdaq. The new timeline represents a faster-than-expected schedule, moving forward from an initial target of late June. A swift review of SpaceX’s IPO paperwork by the US Securities and Exchange Commission was partially responsible for the accelerated timeline, sources told Reuters.
Why Nasdaq over NYSE
The listing marks a major victory for Nasdaq over its rival the New York Stock Exchange. It comes on the heels of Nasdaq’s newly launched “fast entry” rules to speed up the inclusion of newly listed large-cap companies into its benchmark Nasdaq-100 index, a move designed to attract high-profile listings like SpaceX.
Banks backing the SpaceX IPO
Morgan Stanley, Bank of America, Citigroup, JPMorgan and Goldman Sachs are the lead bookrunners for the offering, with 16 other banks in smaller roles spanning institutional, retail and international channels. If the $1.75 trillion valuation is achieved, SpaceX’s debut would surpass all previous stock market flotations in history.
