SpaceX to Go Public Next Month: Key Factors to Watch After Listing [Click e-Stock]

SpaceX is scheduled to go public on June 12. With overwhelming institutional demand confirmed for this record-breaking initial public offering (IPO), market expectations are mounting. Analysts say that the future valuation of SpaceX following its listing will depend on whether the Starship program accelerates.

According to Samsung Securities on May 19, SpaceX is expected to be listed on the Nasdaq under the ticker symbol 'SPCX' on June 12. This date is earlier than the previously expected listing date of June 28 (Elon Musk's birthday). The S-1 registration statement is expected to be released on May 20, with the roadshow anticipated on June 4 and the offering price to be set on June 11.

This IPO is especially notable for its enhanced accessibility for individual investors, unlike most other IPOs. Jun-gyu Park, a researcher at Samsung Securities, explained, "What sets this IPO apart from others is that accessibility for individual investors has been significantly improved through a stock split and an increased allocation of shares to retail investors." He added, "SpaceX lowered the share price from $526.59 to $105.32 through a 5-for-1 stock split before the listing, and this split is expected to be completed within this week." He continued, "In addition, foreign media have reported that SpaceX will allocate 30% of the offering to retail investors, which is a remarkably high proportion compared to the typical 10-15% allocation."

As the listing date approaches, overwhelming institutional demand is being confirmed. In April, the Saudi Arabian sovereign wealth fund reportedly discussed an anchor investment of $5 billion with SpaceX, and there is speculation of possible investments from the sovereign wealth funds of Qatar and Norway as well. This month, Baron Capital and BlackRock have each mentioned the possibility of investing $1 billion and up to $10 billion, respectively. Park commented, "If we sum up the demand from these institutions, about $20 billion appears possible, which accounts for 26.7% of the planned $75 billion to be raised," adding, "Based on this, a successful listing is expected."

With the listing imminent, the success of the 12th Starship test launch scheduled for May 20 will be critical. Park stated, "For SpaceX to have its current valuation recognized at the time of the IPO, it must provide investors with confidence in its space infrastructure capabilities." He further explained, "To achieve this, the success of the 12th Starship test launch, scheduled for 5:30 PM KST on May 20, is essential. This is because SpaceX's vision for space infrastructure is entirely based on Starship’s payload capacity and reusability."

After the listing, the key factor to monitor will be whether the frequency of Starship launches increases. Park emphasized, "The future valuation of SpaceX after its IPO will hinge on whether the Starship program accelerates," explaining, "This is because increasing the frequency of Starship launches will lead to innovation in launch costs, and only with such innovation can ambitious goals like Musk’s vision for space data centers become realistic targets."

This content was produced with the assistance of AI translation services.