SpaceX targets $1.75 trillion IPO with up to $22.5 billion for retail
What’s new: Bankers have already received roughly twice as many orders as available shares, underscoring intense demand ahead of pricing.
SpaceX is preparing an initial public offering that could value the company at about $1.75 trillion, with as much as 30% of the deal, or $22.5 billion in stock, set aside for retail investors. The shares are expected to trade under the ticker SPCX. The allocation is unusually large for individual buyers in a marquee IPO, which are typically dominated by institutions. Brokerage access in the US varies by firm, with eligibility thresholds ranging from no account minimum at Robinhood, SoFi and E*Trade to $100,000 at Charles Schwab and $2,000 at Fidelity. The Business Times reported that demand has already outstripped supply by about two to one, even though SpaceX is not profitable.