Musk’s SpaceX lines up banks to lead IPO, Financial Times says

Elon Musk (file image)

SpaceX has lined up four banks to lead its initial public offering, according to the Financial Times, as Elon Musk’s rocket and satellite firm moves forward with plans for the biggest-ever listing.

The company sees Bank of America Corp., Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley in senior roles, the FT reported, citing people familiar with the matter.

SpaceX is targeting an IPO as soon as this year that would raise significantly more than $30 billion in a transaction that would value the company at about $1.5 trillion, people familiar with the preparations have said.

The company is moving forward with an insider share sale that values it at about $800 billion, Bloomberg News reported in December.

Additional banks are likely to have roles on SpaceX’s IPO, the FT reported, and no final decisions have been made. The banks declined to comment to the FT, while SpaceX didn’t immediately respond. A SpaceX representative didn’t immediately respond to a Bloomberg request for comment.

SpaceX told its employees in December it’s entering a quiet period and that they should refrain from discussing the IPO, a regulatory requirement for listing candidates in the months leading up to the expected debut.