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SpaceX IPO Sets Record With $75 Billion Raise
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
SpaceX has priced its IPO at $135 per share, raising $75 billion at an implied valuation of about $1.8 trillion, making it the largest IPO on record. Reported demand exceeded $250 billion, leaving the offering roughly four times oversubscribed. The company is allocating up to 30% of shares to retail investors, a larger share than is typical for major IPOs. Before trading begins, New Street Research issued a $165 price target, while investor Jim Chanos criticized the offering as being driven by future expectations rather than proven results. Investors will now watch how shares perform when trading starts.
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