SpaceX fast-tracks blockbuster IPO, targets June 12 Nasdaq debut in record-breaking listing – Firstpost

In a move that could eclipse the record set by Saudi Aramco, SpaceX is accelerating plans for its long-awaited stock market debut, targeting a June 12 listing on Nasdaq, according to people familiar with the matter.

The offering, which could raise as much as $75 billion at a valuation of roughly $1.75 trillion, is shaping up to be the largest initial public offering in history—surpassing Aramco’s $29 billion listing in 2019. The scale of the deal underscores not just investor appetite for frontier technologies, but also SpaceX’s growing dominance in the global space economy.

Sources indicate the company is moving ahead on an accelerated timeline after a faster-than-expected review by the U.S. Securities and Exchange Commission. SpaceX is expected to make its prospectus public within days, kick off its investor roadshow on June 4, and price the offering on June 11, with trading to begin the following day under the ticker “SPCX.”

The listing comes at a pivotal moment for global equity markets. After a prolonged slowdown driven by geopolitical tensions, rising interest rates and tariff-led uncertainties, the IPO market is showing early signs of revival. SpaceX’s debut is widely expected to anchor a broader pipeline of high-profile listings, including potential offerings from artificial intelligence firms.

Founded in 2002 by Elon Musk, SpaceX has transformed from a disruptive startup into the backbone of Western space infrastructure. The company now commands over 80 per cent of global rocket launches and operates more than 10,000 Starlink satellites, delivering broadband connectivity across continents, including remote and conflict-hit regions.

Its strategic importance extends beyond commercial markets. SpaceX is a key launch partner for NASA and the US Department of Defense, and is playing a central role in next-generation space missions, including lunar exploration. The company’s integration with Musk’s artificial intelligence venture xAI earlier this year has further broadened its technological scope, positioning it at the intersection of space, data and AI infrastructure.

However, the IPO has also triggered governance concerns. Reports suggest SpaceX plans to implement a structure featuring super-voting shares and provisions that effectively concentrate decision-making power in Musk’s hands. Institutional investors, including large pension funds, have raised objections, calling it one of the most management-friendly governance models proposed at this scale.

Despite these concerns, investor sentiment remains robust. Many backers argue that SpaceX’s track record and Musk’s execution capability justify an unconventional governance framework, particularly given the company’s long-term ambitions, including interplanetary exploration and space-based computing infrastructure.

The offering is being led by a consortium of top Wall Street banks, including Morgan Stanley, JPMorgan, Goldman Sachs, Bank of America and Citigroup, highlighting the significance of the deal for global financial markets.

For Nasdaq, the listing represents a major strategic win in its rivalry with the New York Stock Exchange, aided by new rules designed to fast-track large IPOs into key indices like the Nasdaq-100.

As investors gear up for what could be a once-in-a-generation public offering, SpaceX’s IPO is poised not only to redefine capital markets but also to signal a shift toward a future where space, data and artificial intelligence converge at an unprecedented scale.