Business
SpaceX IPO Raises $75 Billion In Biggest Debut Of All Time
California: SpaceX has made history with the biggest-ever IPO, sending it into the top ranks of the largest public companies and putting founder Elon Musk on the verge of becoming the world’s first trillionaire.
The company raised $75 billion in the IPO, pricing 555.6 million shares at $135 each, according to a statement on its website Thursday. SpaceX’s IPO is more than double the size of Saudi Aramco’s $29.4 billion listing in 2019.
Space Exploration Technologies Corp., as it is officially known, has given the underwriting banks an over-allotment option to buy an additional 83.3 million shares at the IPO price, the statement shows, which would increase the size of the deal to about $86 billion if fully exercised. The IPO drew demand for more than four times the available shares, Bloomberg News reported.
At the IPO price, SpaceX has a market value of $1.77 trillion. Accounting for employee stock options and restricted share units, the pricing gives it a fully diluted valuation of about $1.8 trillion.