SpaceX to cut IPO valuation to at least $1.8trn - report

(Sharecast News) - SpaceX is currently targeting a valuation of at least $1.8 trillion in its initial public offering, according to a Bloomberg report.

Bloomberg reported in April that SpaceX was aiming for a valuation above $2 trillion. However, it said on Friday- citing people familiar with the matter - that the target is settling lower after consultations with advisers and investors.

Details of an IPO such as size and valuation are typically adjusted ahead of pricing based on feedback from stakeholders, the sources said. They added that SpaceX is seeking to raise as much as $75bn, which would make it the biggest IPO of all time.

Bloomberg News said SpaceX is expected to start formal marketing of its IPO as soon as 4 June and to price as early as 11 June. It was understood the trading timeline could be delayed by a matter of days.

Sources said deliberations are ongoing and the company could decide to increase its target valuation depending on investor feedback during the marketing.