IPO | SpaceX underwriting team reports at least 21 banks, the most in recent years

SighingCashier · 2026-04-01T03:45:48+00:00

Elon Musk's SpaceX, the world's richest person, will conduct its first public offering in June, internally codenamed "Apex Project," raising approximately $75 billion with a valuation of $1.75 trillion. The underwriting team includes 21 banks such as Morgan Stanley and Goldman Sachs, making it one of the largest in recent times.

SighingCashier

2026-04-01 03:45:48

Abstract generation in progress

【AI/IPO/Musk/上市/valuation】Global’s richest man Elon Musk’s SpaceX is conducting its first public offering (IPO). According to Reuters, sources said the underwriting syndicate has at least 21 banks, one of the largest underwriting groups in recent years, and the number of banks may still increase in the future.

The report said that SpaceX’s internal code name for this listing is “Project Apex,” with the IPO expected in June. Earlier reports put the amount to be raised at about $75 billion, with an expected valuation of $1.75 trillion.

Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America, and Citigroup will act as active bookrunners and the main underwriters. In addition, 16 other banks include Barclays, Deutsche Bank, ING, Macquarie, Mizuho Bank, SocGen, UBS, and Wells Fargo, among others.

The report said the relevant banks will play underwriting roles through institutional investor, high-net-worth investor, and retail investor channels, as well as across different regions.

Data shows that when chip company ARM Holdings went public in 2023, the underwriting syndicate included nearly 30 banks, while in Alibaba (09988)’s 2014 record-breaking IPO, the underwriting syndicate size was also similar.

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