economy
SpaceX cuts retail IPO allocation to low 20% range, source says
The Elon Musk-led company plans to direct a percentage in the low 20s of the offering to retail buyers, according to a person familiar with the matter.
TL;DR
- SpaceX is allocating a smaller portion of its IPO to retail investors than initially anticipated.
- The allocation for retail buyers is now expected to be in the low 20s, down from earlier expectations of around 30%.
- This decision indicates strong institutional demand for shares in what is poised to be one of history's largest IPOs.
- SpaceX is expected to be valued at approximately $1.8 trillion.
- The allocation decisions are nearly finalized but could still undergo changes.