SpaceX IPO Draws More Than $250 Billion of Demand, More Than Triple Deal Size

Elon Musk's SpaceX has drawn more than $250 billion of investor demand for its planned initial public offering, Reuters reported on June 9.

Orders for the IPO have exceeded $250 billion so far, roughly 3.5 to 4 times the company's target offering size of $75 billion, according to the report.

Long-only institutional investors submitted large orders, people familiar with the matter told Reuters. Musk also joined Zoom meetings with some prospective investors, they added.

SpaceX is in the middle of its IPO roadshow. President Gwynne Shotwell and Chief Financial Officer Bret Johnsen are due to hold a presentation in New York for about 300 institutional investors on June 9, Reuters reported.

The final offering price is scheduled to be set on June 12. The current demand figure reflects indications of interest and may differ from actual allocations.

Markets are closely watching whether the SpaceX IPO will break the record for the largest listing ever.