SpaceX targets $1.75tn valuation as stock-market debut nears
Elon Musk's space company SpaceX filed paperwork seeking a valuation near $1.75 trillion at a share price of $135, with plans to raise up to $86 billion. If completed, the deal would rank as the largest stock-market debut on record.
BBC BusinessUpdated paperwork SpaceX filed with the US Securities and Exchange Commission on Monday sets the target price at $135 per share. At that level, the company would be valued at roughly $1.75 trillion. SpaceX plans to offer up to 644 million shares in the sale, raising as much as $86 billion in fresh capital.
If completed, the deal would more than triple the previous record set by Saudi Aramco in 2019, when its IPO raised $29.4 billion. SpaceX said the proceeds would fund the expansion of its Starlink satellite-internet service and its Starship rocket programme. The company has become an essential provider of US launch capacity, with NASA, the Pentagon and commercial customers buying launches on a steady cadence.
Some analysts argue the valuation is steep. NewStreet Research, which covers SpaceX on Wall Street, said it calculated a figure closer to $800 billion as more realistic. The final price will be set after the investor roadshow over coming days, with SpaceX expected to begin trading on the NYSE under the ticker 'SPAX'.
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