SpaceX is planning an IPO that would sell more than 555 million shares at $135 per share, according to Reuters citing a person familiar with the matter. The deal would target $75 billion in proceeds, a size that would top Saudi Aramco’s 2019 listing record of $29.4 billion if completed.
The listing entity is Space Exploration Technologies Corp. Reuters said the company did not immediately respond to a request for comment. Based on figures cited in market reports, the implied valuation for the offering is estimated at roughly $1.75 trillion to above $1.8 trillion, though the exact number varies depending on the calculation method used.
Listing terms expected June 3, pricing could come June 11
Bloomberg reported that SpaceX is expected to disclose offering terms on June 3, begin its roadshow on June 4, price the deal as soon as June 11, and start trading on June 12. That timeline could still slip by a few days.
The company is expected to list on both Nasdaq and Nasdaq Texas under the ticker SPCX. The lead underwriters are Goldman Sachs, Morgan Stanley, Bank of America, Citi, and JPMorgan, with 18 other banks involved for a total syndicate of 23 firms.
Retail allocation could reach 30%
One of the most discussed parts of the deal is the reported retail allocation. Market reports say around 30% of the IPO shares could be offered directly to individual investors through platforms including Robinhood, Fidelity, and Charles Schwab. For an offering of this size, that is an unusually large retail share.
A broader retail base could leave the shareholder structure more dispersed, which may affect early trading liquidity and price stability. Another point in focus is the Nasdaq-100 inclusion process. Under Nasdaq rules, SpaceX could be added to the Nasdaq-100 around the 15th trading day after listing if the IPO goes through as planned. That would make holders of passive funds such as QQQ indirect owners of the stock, while portfolio rebalancing by institutional investors during that window could either support the share price or add volatility.