SpaceX’s IPO is reportedly heavily oversubscribed, with institutional investors placing orders worth over $10 billion as demand builds for what could be a record-breaking listing. The banks managing the offering are expected to close institutional order books after Wednesday’s market close to assess demand and finalize pricing. The IPO is set to be priced on June 11 and begin trading the following day. SpaceX is offering 555.6 million shares at $135 each, aiming to raise about $75 billion and value the company at roughly $1.8 trillion. Retail investors may still be able to place orders, with up to 30% of shares allocated to them. The IPO is expected to be the largest ever, surpassing Saudi Aramco’s 2019 debut, with growing interest boosted by SpaceX’s expanding AI and cloud-related deals.

Disclaimer: This image is taken from Bloomberg.