Billionaire Elon Musk’s SpaceX has had discussions with Saudi Arabia’s Public Investment Fund about taking an anchor stake of around $5B in the space company’s IPO, according to two people familiar with the matter (Reuters).
The rocket maker has been lining up anchor investors well ahead of its stock market debut. The company aims to raise a record-breaking $75B, which would dwarf previous mega-IPOs such as Saudi Aramco in 2019 and Alibaba in 2014.
Anchor investors are institutional buyers who typically commit to a fixed stake ahead of an IPO roadshow, signalling confidence and helping underpin demand for the offering once public.
The company, based in Starbase, Texas, submitted confidential IPO paperwork with the SEC recently and is targeting a market launch later this year.
Initial story as first reported.
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