The anticipation surrounding SpaceX's stock market debut is becoming a pivotal moment for the global space industry. Reports indicate the company plans to file its IPO registration with U.S. regulators within this or next week. Fundraising estimates could surpass $75 billion, approximately 2.4 trillion baht, potentially making SpaceX one of the world's highest-valued companies upon listing.
. Elon Musk, SpaceX's CEO and founder, officially announced the company's initial IPO late last year. Recently, international news agencies reported that SpaceX has increased its fundraising target beyond $75 billion, with a company valuation estimated at up to $1.75 trillion. If realized, this deal would shatter the record set by Saudi Aramco’s $29 billion IPO in 2019 by a wide margin.
Reports highlight that many are closely watching the IPO terms, which differ from usual practices—for example, allowing retail investors to hold more than 20% of shares or permitting existing shareholders to sell shares from the first day of trading, effectively waiving the standard 180-day lock-up period that typically prevents insiders from immediately selling after an IPO. Another option under consideration is staggered unlocking of shares to avoid massive sell-offs on day one, given the deal's enormous size, which cannot be fully unlocked immediately, according to sources.
Meanwhile, stock exchanges are updating rules to accommodate such large deals. Nasdaq has proposed allowing companies ranked in the Top 40 of the Nasdaq 100 index to be included within 15 days post-IPO, instead of waiting for the annual index rebalancing. It also suggests removing the minimum 10% free float requirement, meaning large firms like SpaceX, planning to sell less than 5% of shares, can still join the index. Similarly, the New York Stock Exchange (NYSE) announced a fast-entry rule for the NYSE 100 index, enabling companies with very high market capitalizations to join immediately after listing.
Some sources also note that Musk’s influence over pricing and timing of the IPO is unusually high for a deal of this scale, raising concerns since he sets the price without a formal process. This indicates that SpaceX’s IPO is a game changer, while capital markets are adapting their frameworks to accommodate potentially massive future deals.
An intriguing aspect of the deal structure is the participation of leading banks as lead underwriters, including Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley. SpaceX aims to begin trading by June, coinciding with Musk’s birthday.
Immediately after news broke that SpaceX could list as soon as this week, space sector stocks rallied broadly. Leading the gains were Rocket Lab and AST SpaceMobile, rising about 10%, while Firefly Aerospace surged as much as 16%.
SpaceX’s IPO will set a new industry benchmark, giving investors a clear valuation reference and triggering a major price comparison process. This will have a ripple effect, prompting revaluation of other space stocks, particularly given the potential $75 billion fundraising, which introduces a new wave of capital, enhancing liquidity and likely attracting Tesla’s investor base.
Since its founding in 2002, SpaceX has transformed the economics of the space industry with reusable rockets, evolving from just a rocket launcher to a global infrastructure builder. SpaceX has created an ecosystem that clarifies the space business model.
This includes integrating the Starlink satellite network, the Starship rocket and transport project, and innovative ideas like space-based data centers—all linked within a long-term vision to build infrastructure in Earth's orbit amid rising AI computing demands.
Read more
Source information The Information , CNBC , Financial Times
Follow the Facebook page: Thairath Money at this link -