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SpaceX Eyes USD75B IPO Under Ticker SPCX
(MENAFN) Elon Musk's SpaceX took a landmark step toward the public markets Wednesday, filing publicly for an initial public offering on the Nasdaq under the ticker symbol SPCX — a move that could culminate in the largest stock market debut in history.
Space Exploration Technologies Corp., SpaceX's formal corporate name, submitted the listing paperwork to the US Securities and Exchange Commission on Wednesday, confirming earlier reports that the company had previously filed on a confidential basis.
Sources familiar with the matter said SpaceX is seeking to raise as much as $75 billion at a valuation north of $2 trillion — a figure that would obliterate the standing IPO record of $29.4 billion set by Saudi Aramco in 2019.
The offering would also vault SpaceX into the upper echelons of the world's most valuable companies, surpassing the market capitalisation of Tesla, the electric vehicle manufacturer also helmed by Musk.
SpaceX commands an unrivalled position in global space transportation, serving as a primary launch contractor for both NASA and the Pentagon. Its Starlink satellite internet division generates billions in additional annual revenue, broadening the company's financial base well beyond rocket launches.
The company's private valuation has ballooned in recent years, most recently hitting $1.25 trillion following its acquisition of Musk's artificial intelligence venture xAI earlier this year — a deal that also folded in X, the social media platform Musk took private in 2022.
Goldman Sachs and Morgan Stanley are serving as lead underwriters on the offering, with Bank of America, Citigroup, and JPMorgan Chase also named in the filing as participants in the deal.
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