SpaceX IPO tops 4x demand, pulls in more than $70 billion from retail
What's next: The $75 billion deal is set to price June 11 and start trading June 12, with retail investors expected to get at least 20% of shares.
SpaceX's record-setting initial public offering drew demand for more than four times the shares available and more than $70 billion in orders from retail investors as the deal neared pricing, according to people familiar with the matter. The company is offering 555.6 million shares at a fixed price of $135, raising about $75 billion and valuing Space Exploration Technologies at roughly $1.8 trillion. The stock is set to price June 11 and begin trading June 12 on Nasdaq and Nasdaq Texas under the symbol SPCX. Institutional books were expected to close after the New York market shut Wednesday. Retail investors are expected to receive at least 20% of the shares, while international orders are set to get less than 10%; Japan's allocation was increased to $2.5 billion.