Exclusive - SpaceX informs banks that it will not adjust its IPO price at $135 per share.
SpaceX SPCX | 0.00 |
NEW YORK, June 4 (Reuters) - SpaceX has told banks, as part of its expected $75 billion initial public offering, that it is sticking to a price of $135 per share, the price the company revealed on Wednesday in a revised offering filing, sources told Reuters.
The company's decision represents the latest indication of Elon Musk's determination to pursue the largest initial public offering ever, though sources emphasized that the decision could still change before the IPO. SpaceX did not immediately respond to a request for comment.
SpaceX began its investor meetings on Thursday as part of its IPO roadshow. The issuers and cooperating banks typically gather investor feedback before setting the final IPO price at a meeting held the day before trading begins.
Three sources familiar with the roadshow described the demand as difficult to meet. One source said analysts working on the IPO were receiving up to 20 calls a day from investors, far exceeding the usual 10 to 15.
Trading in SpaceX shares is expected to begin on Friday, June 12.
