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SpaceX lowers targeted IPO valuation to at least 1.8 trillion dollars, aiming to raise 75 billion
SpaceX is lowering its targeted IPO valuation to at least 1.8 trillion dollars, down from earlier aims above 2 trillion. Elon Musk's company seeks to raise up to 75 billion dollars in what could be the biggest IPO of all time, with formal marketing expected as soon as June 4.
Bloomberg has learned that SpaceX is lowering its targeted initial public offering valuation to at least 1.8 trillion dollars, down from earlier targets above two trillion dollars. Elon Musk's space company is seeking to raise as much as 75 billion dollars in what could become the biggest IPO in history.
The company is expected to start formal marketing of the IPO as soon as June 4, according to sources familiar with the matter. The adjustment in valuation suggests that SpaceX and its advisors are taking a more conservative approach to pricing, potentially to ensure strong demand from institutional investors.
Even at the reduced valuation of 1.8 trillion dollars, the SpaceX IPO would dwarf any previous public offering. The 75 billion dollar capital raise alone would surpass the previous record for IPO proceeds, reflecting the extraordinary scale of investor interest in the company's Starlink satellite internet business and rocket launch operations.
The IPO comes at a time of significant market activity in the technology and space sectors. SpaceX's Starlink division has become a major revenue driver, providing satellite internet service to millions of subscribers globally. The company's reusable rocket technology has also established it as the dominant player in commercial space launches.
Market analysts note that the IPO will be closely watched as a barometer of investor appetite for mega-cap technology listings. The offering could make Musk, already one of the world's wealthiest individuals, the first person to cross certain wealth thresholds, Bloomberg reported.