SpaceX, the space company led by Tesla Chief Executive Officer Elon Musk, will launch its initial public offering (IPO) on July 12.
On the 15th (local time), Reuters and other foreign media reported that SpaceX is proceeding with IPO procedures with the goal of listing on the Nasdaq on June 12.
SpaceX will release its prospectus soon and hold a roadshow for institutional investors on the 4th of next month. It plans to finalize the offering price on the 11th and proceed with the listing on the 12th.
In the market, many initially expected the IPO to take place around June 28, Musk's birthday. However, the schedule was moved up as the U.S. Securities and Exchange Commission (SEC) reviewed the filings faster than expected.
The SpaceX listing is considered one of the top focuses of the global financial markets this year. After its merger with the artificial intelligence (AI) company xAI in February this year, the company has been valued at about $1.25 trillion (1873 trillion won). Through this IPO, it is said to be aiming to raise $70 billion to $75 billion.
That would far exceed the record for the largest IPO haul, $29 billion, set by Saudi Arabia's state oil company Aramco in 2019. To accommodate the massive offering, SpaceX has reportedly appointed underwriters not only in the United States but also in the United Kingdom, Japan and Canada to court investors.
SpaceX focuses on the satellite internet service "Starlink" and the next-generation large spacecraft "Starship." Recently, it also acquired the AI startup xAI, previously led by Musk, accelerating the expansion of its AI business.
If the listing is completed successfully, SpaceX is expected to join Apple, Microsoft, Alphabet and Amazon among the publicly traded companies with the world's highest valuations.