It’s lift off for SpaceX. Investors can now trade in Elon Musk’s rockets and AI company, after it made history with the biggest stock market listing ever.
SpaceX last night sold 555.6million shares at $135 (£100) each, raising $75billion and valuing the firm at a mammoth $1.77trillion. It is now listed on the US stock market with the ticker SPCX but no trading price is available yet.
Demand for shares in Musk’s firm, which is looking to build out space tourism, asteroid mining and data centres on the moon, outstripped supply as investors hope for astronomical returns.
Unlike other initial public offerings (IPOs), retail investors were offered a much larger allocation of 30 per cent rather than the usual offering of between 5 and 10 per cent.
And a small army of British investors were among them, figures this morning revealed they scooped up 2.7million SpaceX shares in the IPO, costing a total of £270million.
