SpaceX will file its initial public offering application with the US Securities and Exchange Commission next week. Photo / Getty Images
SpaceX will file its initial public offering application with the US Securities and Exchange Commission next week. Photo / Getty Images
SpaceX will file its initial public offering application with the US Securities and Exchange Commission next week, a source close to the matter told AFP on Friday.
The aerospace company had already filed an initial document in early April, but confidentially, a standard first step in the process leading toa listing.
The second version is expected to reveal to the public, for the first time, some of the company’s financial statements and details about its operations.
According to several media outlets, the company is aiming for a listing on the Nasdaq electronic stock exchange in June, with a valuation of approximately US$1.75 trillion ($2.99t), and hopes to raise up to US$80 billion.
Observers expect the IPO to shatter the record set on the US market in 2014 by China’s Alibaba, which raised US$21.7b.
Globally, the highest-valued brand currently belongs to the Saudi Aramco oil group, with a market capitalisation of US$25.6b in 2019 on the Jeddah Stock Exchange in Saudi Arabia.
SpaceX has immense capital requirements. It is engaged in space projects, including its new Starship rocket, but also the development of the Starlink satellite internet network, the giant Terafab chip factory and advanced AI models.
Founded in 2002 by Elon Musk, who remains its chief executive and principal shareholder, the group also includes artificial intelligence start-up xAI and the social network X, formerly Twitter.
