SpaceX IPO raises $85.7 billion as underwriters exercise ‘greenshoe’ option
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June 15 : SpaceX has raised $85.7 billion in its U.S. initial public offering after underwriters exercised the “greenshoe” option, the rocket, AI and internet company founded by Elon Musk said on Monday.
Shares of SpaceX jumped 19 per cent in their Nasdaq debut on Friday, lifting the company’s market capitalization above $2 trillion and making Musk the world’s first trillionaire. The company had priced its offering of 555.56 million shares at $135 apiece.
SpaceX’s IPO included a so-called greenshoe option, a standard feature of most large U.S. stock market listings that acts as a safety valve, helping underwriters support the stock and limit sharp price swings in the weeks after trading begins.
The IPO dwarfed every stock market listing on record globally, surpassing oil giant Saudi Aramco’s 2019 listing, which had previously held the title of the world’s largest IPO.
The stock was up 6.4 per cent in early trading on Monday, adding to Friday’s gains.
Source: Reuters
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