AkademikerPension, one of Denmark’s largest pension funds, says it will not invest in SpaceX, including participation in the company’s planned initial public offering and purchases in secondary-market transactions. Multiple outlets report that the fund’s chief investment officer, Anders Schelde, describes SpaceX as “grossly overvalued” and points to what he calls a “catastrophic” or deeply flawed corporate governance structure as the main reasons for the exclusion. The fund also raises concerns about governance risk tied to Elon Musk’s dominant control. Separately, some other institutional investors are described as having reservations about SpaceX’s proposed governance approach. SpaceX has filed for an IPO (reported as May 20) and is expected to move into formal marketing of the offering in the following period, according to one outlet. The decision is presented as part of broader investor caution around the economics and oversight of the IPO, with AkademikerPension already notable earlier in the year for changing its holdings in US Treasuries amid political concerns.
Danish pension fund AkademikerPension blacklists SpaceX over valuation and governance concerns
AkademikerPension, one of Denmark’s largest pension funds, says it will not invest in SpaceX, including participation in the company’s planned initial public offering and purchases in secondary-market...
- AkademikerPension will not participate in SpaceX’s initial public offering.
- The fund also excludes buying SpaceX shares in secondary-market transactions.
- AkademikerPension cites SpaceX’s valuation as “grossly overvalued.”
- The fund cites governance concerns, describing the structure as deeply flawed or “catastrophic,” including risks from Musk’s control.
- SpaceX has submitted IPO materials and is expected to begin formal marketing of the offering next.
A major Danish pension fund, AkademikerPension, will not invest in SpaceX's upcoming IPO. The fund cites severe overvaluation and a deeply flawed corporate governance model. They believe Elon Musk's near-absolute control poses significant risks. Other institutional investors also express concerns about SpaceX's proposed governance structure. This decision highlights investor caution regarding the aerospace giant's public debut.
2 months agoComments
2 months agoSpaceX, which submitted its IPO filing on May 20, is expected to start formal marketing of its offering next month
2 months agoDenmark’s AkademikerPension, which manages roughly $25 billion for academic professionals, has said it will not participate in SpaceX’s initial public offering or buy shares in any secondary-market transaction, according to Bloomberg. Chief investment officer Anders Schelde called the company “grossly overvalued” and cited what he described as a “catastrophic governance structure” as the primary reason for the […] This story continues at The Next Web
2 months agoA Danish pension fund that earlier this year made headlines by exiting US Treasuries as Donald Trump was threatening to seize Greenland now says it won’t touch SpaceX.
2 months ago
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