SpaceX, founded by billionaire Elon Musk, has reportedly adjusted its IPO valuation target to at least $1.8 trillion, from a previously estimated $2 trillion valuation.
The firm is lowering its valuation based on consultations with advisors, investors and feedback from other stakeholders, as per a Bloomberg report on Friday.
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Discussions are underway, and the firm could decide to increase its valuation target later, the report stated.
SpaceX is likely to begin formal marketing of the IPO on June 4, and the final IPO price is expected to be set on June 11. However, the timeline can be subject to delays, according to Bloomberg.
