BlackRock intends to buy at least $5 billion worth of shares in Elon Musk's space technology company SpaceX in its initial public offering (IPO), The Wall Street Journal reported, citing sources familiar with the matter.
According to the report, SpaceX plans to raise about $75 billion through the IPO. The company's market value is estimated at $1.8 trillion. If these figures are confirmed, SpaceX could sign one of the largest IPOs in history.
It is reported that the order book has already closed and investment banks are determining the share distribution before the planned listing on the Nasdaq stock exchange. According to earlier reports, SpaceX is also considering allocating up to 30% of the shares to individual investors as part of the IPO.
The company and BlackRock have not made official comments on the matter.
