SpaceX has informed financial institutions that it remains firm on its $135 per share pricing for its massive $75 billion initial public offering, according to sources who spoke with Reuters.
The aerospace company revealed this pricing in an updated IPO document filed on Wednesday, and sources indicate the firm has no intention of adjusting the figure despite traditional Wall Street practices that typically involve price modifications based on investor input.
This approach represents another example of Elon Musk conducting what would be the largest initial public offering in history according to his own terms, breaking from established financial industry customs. However, sources cautioned that this stance could still shift before the public offering occurs. The company has not yet provided a response to requests for comment.
The company kicked off investor meetings Thursday as part of its IPO roadshow, a standard process where companies and their banking partners usually collect feedback from potential investors before setting final share prices in meetings held one day prior to trading launch.
Three individuals with knowledge of the roadshow characterized investor interest as extremely strong. Investment analysts handling the offering have been receiving up to 20 daily calls from interested investors, which exceeds the typical 10 to 15 calls seen during high-demand offerings, according to one source.
SpaceX shares are anticipated to begin trading on Friday, June 12.
