According to two people familiar with the situation, SpaceX has received investor demand of over $150 billion for its IPO, which is more than double the $75 billion company is aiming to raise. An oversubscription rate of two times would be considered moderate for most highly anticipated market flotations, but bankers and investors said demand for the SpaceX offering is astounding given that it is the largest IPO in history.
Sources cautioned that the company is still in the early phases of its marketing campaign. Investor interest is still open to alter before the IPO pricing next week. According to the sources, several significant institutional investors typically make orders late in the IPO process, and current subscription statistics reflect indications of interest rather than final allocations, which will be determined at pricing.
The sources requested anonymity because the topic is private. SpaceX did not respond to a request for comment. Bloomberg reported Friday that the IPO was oversubscribed. This week, SpaceX launched a push to persuade investors that its IPO could open up trillions of dollars in new markets for its space-launch, internet-connection, and artificial intelligence businesses.
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