(Dec 13): SpaceX has authorised an insider share sale that values Elon Musk’s rocket and satellite maker at about US$800 billion, according to a company message seen by Bloomberg on Friday.
The company also said it’s preparing for a possible public offering in 2026.
The per-share price of US$421, laid out by chief financial officer Bret Johnsen in a message to shareholders, is nearly double the US$212 a share set in July, when the company raised money and sold shares at a valuation of US$400 billion.
SpaceX is moving ahead with plans for an IPO that would seek to raise significantly more than US$30 billion in a transaction that would make it the biggest listing of all time, Bloomberg reported earlier this week.
The Musk-led company is targeting a valuation of about US$1.5 trillion for the entire company, which would leave SpaceX near the market value that Saudi Aramco established during its record 2019 listing.
The company does tender offers twice a year, giving shareholders including employees the chance to cash in or buy more shares. In this case, SpaceX has set its fair market valuation in a precursor to an IPO next year.
See also: Nasdaq seeks discretion to deny listings of small-cap IPOs
A representative for SpaceX, formally known as Space Exploration Technologies Corp, didn’t respond to a request for comment.
The world’s most prolific rocket launcher, SpaceX dominates the space industry with its Falcon 9 rocket that lifts satellites and people to orbit. SpaceX is also the industry leader in providing internet services from low-Earth orbit through Starlink, a system of thousands of satellites that serves millions of customers.
SpaceX is also working to develop its new Starship vehicle, advertised as the most powerful rocket ever developed, to loft huge numbers of Starlink satellites as well as carry cargo and people to the moon and, eventually, Mars.
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