SpaceX talks with Saudi fund for 5 billion dollar IPO stake
SpaceX is discussing a five billion dollar anchor stake with Saudi Arabia’s wealth fund. The company seeks to raise seventy-five billion dollars in its IPO.
Elon Musk’s SpaceX has entered discussions with the Public Investment Fund of Saudi Arabia regarding a potential $5 billion investment as part of the company’s upcoming initial public offering. This anchor stake would help the sovereign wealth fund maintain its current ownership level and prevent the dilution of its existing interest, which is currently estimated to be just under 1%.
The aerospace company is reportedly identifying major institutional backers well in advance of its debut on the stock market. SpaceX is aiming for a record-breaking capital raise of $75 billion, a figure that would significantly exceed previous landmark offerings. This target would eclipse the 2019 listing of SAUDI ARABIAN OIL CO and the 2014 debut of ALIBABA GROUP HOLDING LTD, which was the largest ever for a company from China.
