BREAKINGVIEWS-SpaceX’s IPO brags are surprisingly pedestrian

Space Exploration Technologies

Space Exploration Technologies

SPCX

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Stephen Gandel

NEW YORK, June 11 (Reuters Breakingviews) - The rocket-maker’s $75 bln launch has drawn $250 bln of orders, Reuters reported. Such talk is typical of big listings but does correlate with debut performance. Elon Musk should hope to buck the trend: the imbalance claimed for the largest offering ever pales beside other deals.

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CONTEXT NEWS

SpaceX is expected to begin its public trading debut on June 12. The company is ​aiming to raise $75 billion in an initial public offering valuing it at $1.75 trillion. The company's underwriters have received more than $250 billion in orders for the IPO, Reuters reported, indicating the offering will be nearly 4 times oversubscribed.


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