GS Leads Underwriting for SpaceX's Record-Breaking IPO
Goldman Sachs has been named as the lead underwriter for SpaceX's massive initial public offering (IPO), according to a report from CNBC. The news sent Goldman Sachs' stock price edging 0.7% higher in premarket trade, despite having lost ground over the past three days.
The IPO prospectus is expected to be made public as soon as Wednesday, with Morgan Stanley, Bank of America, Citigroup, and JPMorgan Chase also serving as bankers on the listing.
Elon Musk's SpaceX is targeting a raise of about $75 billion at a record valuation of $1.75 trillion, making it the biggest public listing in history. This would surpass the valuations of Meta Platform's Facebook and China's Alibaba after their first day of trading on U.S. markets.
The announcement has sparked mixed reactions from retail investors, with some expressing optimism about Goldman Sachs' involvement in the IPO.