New York: Elon Musk's rocket and satellite company SpaceX is planning to list its shares on the Nasdaq for what could rank as the biggest initial public offering of all time, according to reports.
According to Reuters, “SpaceX wants early inclusion on the Nasdaq 100 index, making it a necessary condition for a potential listing on the tech-heavy exchange”.
SpaceX did not comment on the report.
Reuters has previously reported that SpaceX is planning an IPO, as early as June. The New York Stock Exchange is also competing for SpaceX listing, and neither exchange has been informed of a decision either way, multiple people said.
SpaceX is seeking a valuation of around $1.75 trillion for the IPO, one of the people said, which would make it the sixth-largest company by market value in the US, based on the latest share prices.
Admission to a blue-chip index like the Nasdaq 100 or the S&P 500 gives companies increased access to the deep-pocketed institutional investors, said the report.
