AUSTIN (dpa-AFX) – Elon Musk’s space company SpaceX wants to raise around 75 billion US dollars in its record IPO. With an issue price of $135, the loss-making company is aiming for a total valuation of almost $1.8 trillion straight away. The figures from the stock exchange prospectus updated on Wednesday correspond to the values previously mentioned in media reports.
Tech billionaire and company boss Musk is expected to retain full control of SpaceX even after the IPO with a voting share of more than 80 percent. The basis for this is shares with more voting rights. In the largest IPO to date, the Saudi Arabian oil company Aramco (Aramco (Saudi Aramco)) raised a good $29 billion in 2019.
Big losses at SpaceX
SpaceX’s pure business figures are in stark contrast to the targeted stock market value. Last year there were red figures of around 4.94 billion dollars with sales of 18.67 billion dollars (a good 16 billion euros). One reason for the minus is the high cost of developing the large Starship rocket.
However, SpaceX shares are being sold to investors as a big bet on Musk’s innovative strength – similar to the electric car manufacturer Tesla, which he also runs. Musk talks about flights to Mars, a city on the moon and AI data centers in space.
Missiles and AI
SpaceX plays a key role in the US space program with its rockets. The company also operates the Starlink satellite internet service. Musk also brought his AI company xAI and the online platform X into SpaceX. According to media reports, the group was valued at a total of $1.25 trillion during this merger./so/DP/he
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