SpaceX Eyes Jumbo IPO Funds, Valuation Surpasses Rp 29,750 Trillion

Jakarta, CNBC Indonesia - Elon Musk’s technology company, SpaceX, plans to submit its initial public offering (IPO) prospectus to regulators this weekend or next week. Citing a report from The Information on Tuesday, SpaceX’s IPO could raise more than US$75 billion, equivalent to Rp1,275 trillion. This much-anticipated IPO by investors could value the company at more than US$1.75 trillion (Rp29,750 trillion), marking one of the largest market debuts in history, with a potential listing on Nasdaq. The jumbo valuation is driven by SpaceX’s dominant launch business (Falcon 9), the expansion of its Starlink satellite internet network, and the development of the Starship rocket. Advisers involved in the preparations estimate that the retail investor portion may exceed 20% of the new share issuance, though this figure has not yet been finalised, according to the report. SpaceX is known to have around 9,000 satellites for its Starlink internet service, which provides high-speed connectivity to residential customers as well as business clients such as airlines. SpaceX is also building a business to provide direct satellite connectivity to consumer mobile phones. The company recently agreed to acquire a spectrum block from satellite operator EchoStar to support these ambitions. SpaceX is spending more than US$20 billion in cash, shares, and debt commitments to purchase that spectrum. SpaceX is also continuing to invest in Starship, a large rocket being developed for various missions, including NASA’s astronaut landings on the Moon. The technology site The Information previously reported on SpaceX’s discussions with investors regarding potential IPO timing.