SpaceX attracted more than $350 billion in demand for its $75 billion initial public offering, marking the largest IPO on record, according to people familiar with the matter.
The company sold 555.6 million shares at $135 each, valuing it at roughly $1.8 trillion. Institutional investors placed over $250 billion in orders, with about 70% of the shares going to long-only funds and sovereign wealth funds, the people said.
BlackRock Inc. sought approximately $5 billion in shares, while Saudi Arabia’s Public Investment Fund and Kuwait Investment Authority each placed orders valued between $1 billion and $5 billion, Bloomberg News reported.
