June 11 (Reuters) – Asset manager BlackRock sought to buy at least $5 billion worth of shares in the initial public offering of Elon Musk’s SpaceX , the Wall Street Journal reported on Thursday, citing people familiar with the matter. SpaceX is expected to raise about $75 billion in what would be the world’s largest […]
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BlackRock seeks to buy at least $5 billion in SpaceX IPO shares, WSJ reports
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June 11 (Reuters) – Asset manager BlackRock sought to buy at least $5 billion worth of shares in the initial public offering of Elon Musk’s SpaceX , the Wall Street Journal reported on Thursday, citing people familiar with the matter.
SpaceX is expected to raise about $75 billion in what would be the world’s largest IPO on record at about a $1.8 trillion valuation.
The order book closed on Wednesday and bankers are determining share allocations ahead of a planned Nasdaq listing on Friday, the WSJ said.
Reuters had previously reported that SpaceX was considering allocating as much as 30% of the offering to individual investors.
Musk has rewritten the IPO playbook for SpaceX in many other ways, from planning to give retail investors a larger role in allocations to pushing for early index inclusion and structuring governance to preserve strong founder control.
SpaceX did not immediately respond to a request for comment, while BlackRock declined to comment. Reuters could not immediately verify the report.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Shreya Biswas)