Demand expected to grow further as large institutional investors typically submit orders late in the process

The SpaceX facility in Hawthorne, California, seen in March. [AFP]
The SpaceX facility in Hawthorne, California, seen in March. [AFP]

SpaceX, Elon Musk's space company, has drawn roughly $150 billion in investment demand ahead of its initial public offering — about twice its fundraising target — Reuters reported June 5.

Sources said a 2x oversubscription rate is not unusual for most IPOs, but given that SpaceX's listing is set to be the largest in history, the figure is considered highly impressive. The company plans to raise $75 billion through the offering.

Bloomberg also reported that the SpaceX IPO is oversubscribed. The current figures are not final, however, and could change before the offering price is set next week, as large institutional investors often submit their orders late in the process.

During a roadshow ahead of the IPO, SpaceX pitched investors on the offering as a gateway to multi-trillion-dollar markets in space launch, internet connectivity and AI. "By dramatically reducing the cost of access to space, we can expand the scope of the mission to solve Earth's most pressing challenges," the company said.

SpaceX, widely regarded as the most anticipated IPO in recent memory, is set to list on the Nasdaq on Friday. The company is valued at $1.75 trillion.


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