Investment firm BlackRock has submitted a bid to buy at least $5 billion worth of SpaceX shares as part of Elon Musk's upcoming IPO, APA reports citing The Wall Street Journal (WSJ).
According to the publication, other major management companies have also submitted bids for shares in comparable amounts. Moreover, the bid volumes significantly exceed those typical for traditional initial public offerings.
As the newspaper notes, private investors submitted bids for more than $70 billion. Sovereign wealth funds and family investment offices also expressed interest in the offering, including one investor requesting more than $1 billion in shares. SpaceX plans to raise approximately $75 billion in the IPO, which could be the largest in history.
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