SpaceX IPO reportedly receives significant oversubscription

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Golden Finance reports that on June 9, according to foreign media, people familiar with the matter said that SpaceX’s first initial public offering (IPO) has received a significant level of oversubscription, and market demand for this potentially record-setting listing is heating up. People familiar with the matter said that the lead underwriter bank for this offering is expected to stop accepting subscription applications from institutional investors after the close of the New York market at 4 p.m. on Wednesday. Closing the book will give the bank time to assess demand and provide the company with advice on pricing. SpaceX’s IPO is expected to be priced on June 11 and begin trading the following day. The company will issue 555.6 million shares, priced at $135 per share, raising approximately $75 billion, with a company valuation of approximately $1.8 trillion. After the Wednesday deadline, retail investors can still submit SpaceX stock subscription orders on some platforms. Earlier reports said the company would allocate up to 30% of the shares in this offering to retail investors.
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