Korea Investment Management said Thursday it will participate in the initial public offering of SpaceX, which is set to list June 12 local time.
SpaceX, Elon Musk's space technology company, is preparing what would be the largest listing in global stock market history. The IPO is expected to raise between $75 billion and $80 billion, with SpaceX targeting a valuation of roughly $1.75 trillion. The Wall Street Journal reported Tuesday that SpaceX plans to soon file a registration statement with regulators containing its proposed offering price and other related details.
Korea Investment Management plans to distribute shares acquired through the IPO to its ACE US Space Tech Active exchange-traded fund and the Korea Investment Global Space Technology & Defense fund. The firm also plans to buy additional shares on the listing date.
th5@heraldcorp.com
