SpaceX’s initial public offering is drawing orders well in excess of the shares available, according to people familiar with the process cited by multiple reports. Bloomberg and The Next Web describe institutional demand as several times oversubscribed, with some reports stating it is more than four times the offering size. Banks managing the deal are expected to stop taking institutional orders at the market close on Wednesday, while the IPO is set to price on June 11 and begin trading the next day.
The Next Web reports that multiple investors have placed orders of $10 billion or more and characterizes the offering as “well oversubscribed.” Bloomberg adds that reported demand includes large retail participation and specific institutional interest, including an order from BlackRock cited in one report. Separately, Bloomberg also reports the IPO is priced at $135 per share, raising $75 billion, and that the level of demand is fueling anticipation for how the stock will trade once it starts trading.
Across outlets, the central point is the same: order flow is strong, and the IPO’s final allocation and pricing dynamics are shaped by exceptionally high demand.
