SpaceX, the aerospace company led by Elon Musk, is expected to begin initial public offering (IPO) procedures as early as next month.
On the 27th, Bloomberg News, citing sources, reported that SpaceX plans to submit confidential draft registration documents to the U.S. Securities and Exchange Commission (SEC) as early as March.
SpaceX, which recently expanded by acquiring artificial intelligence (AI) startup xAI, is said to be seeking a $1.75 trillion (about 2,524 trillion won) valuation through the IPO.
If the listing is completed as planned, SpaceX is expected to become one of the world's most highly valued listed companies, alongside Nvidia, Apple, Microsoft, Alphabet and Amazon.
SpaceX is expected to raise up to $50 billion (about 72 trillion won) through the IPO. That would far exceed the $29 billion (about 41 trillion won) IPO fundraising record set by Saudi Aramco, the Saudi state-owned oil company, in 2019.
The funds secured will be used for the large Starship spacecraft, construction of a space artificial intelligence (AI) data center and a lunar base project.
The target timing for the listing is seen as June, the month when CEO Musk was born. However, the schedule could change depending on internal decisions and confidential review by the SEC. Bank of America (BoA), Goldman Sachs, JPMorgan Chase and Morgan Stanley are under consideration as lead underwriters.
SpaceX is running the satellite-based internet business "Starlink" and a space launch vehicle business, and 50 to 70 percent of total revenue comes from Starlink. It is known to have posted about $15 billion to $16 billion in revenue last year, with $8 billion in profit.