SpaceX, the aerospace company led by Elon Musk, is expected to launch its initial public offering (IPO) on June 12.
Reuters reported Thursday, citing multiple sources, that SpaceX has accelerated its IPO timeline and is targeting a Nasdaq listing on June 12.
To meet the schedule, the company will release its prospectus shortly and hold a roadshow for investors on June 4. SpaceX plans to finalize its offering price on June 11 and list the following day. The stock ticker is expected to be "SPCX."
SpaceX's IPO had widely been expected to take place on the birthday of founder Elon Musk on June 28. However, one source told Reuters that "the schedule was moved up as the U.S. Securities and Exchange Commission's (SEC) document review proceeded faster than expected."
The SpaceX listing is the top focus of global financial markets.
Following its merger with xAI in February this year, SpaceX was valued at $1.25 trillion, or 1,873 trillion won, and the company plans to raise $70 billion to $75 billion through the listing. This far exceeds the previous record for IPO fundraising of $29 billion set by Saudi Arabia's state-owned oil company Aramco in 2019.
To facilitate fundraising on this scale, SpaceX has also selected listing underwriters in the United Kingdom, Japan and Canada in addition to the United States, with each handling its respective region.
SpaceX runs the satellite-based internet business "Starlink" and the large spacecraft Starship project, and has recently acquired xAI, the artificial intelligence startup led by Musk, to advance its AI business.
If the IPO is completed successfully, SpaceX will join Nvidia, Apple, Microsoft, Alphabet and Amazon as one of the most valuable publicly listed companies in the world.
