Elon Musk’s SpaceX plans to launch a record initial public offering on June 12, aiming to raise as much as $80 billion or more from investors, according to the Wall Street Journal.
If the listing is completed, it will rank as the largest stock market debut ever.
SpaceX plays a major role in the American space program by launching rockets and also operates the Internet via Starlink satellites.
Musk also merged the artificial intelligence company “XAI” and the social media platform “X” into “SpaceX.” After the merger, the combined group was said to be valued at approximately $1.25 trillion.
On Friday, Bloomberg quoted informed sources as saying that the majority of SpaceX shareholders had agreed to a 5-to-1 stock split in accordance with the recommendation of the company’s board of directors.
The report added that shareholders in the company, which is preparing for an initial public offering, were notified via email that the current fair market value per share was adjusted from $526.59 to about $105.32 after the split.
