Billionaire Elon Musk's rocket and satellite maker SpaceX is exploring its listing on the United States-based Nasdaq, eyeing a debut that could potentially make it the biggest initial public offering of all time.
A new report stated SpaceX is seeking early inclusion on the Nasdaq-100 index as a condition for its potential IPO. The Nasdaq-100 is a premier blue-chip index that tracks may of the world's biggest publicly traded names, including Nvidia and Apple, and is widely seen as a key barometer of the global technology sector.
According to Reuters, the issue could emerge as early as June, though sources cautioned that plans remain fluid. While the comany is looking at a listing on the Nasdaq Stock Market, the New York Stock Exchange (NYSE) is also competing for the listing.
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Reports about SpaceX emerged a month after Nasdaq announced new rules that may help speed up the addition of newly listed megacap companies to the Nasdaq-100 index. The rules, which are yet to come into effect, aim to attract high-value private companies such as SpaceX, Anthropic and OpenAI to list on the exchange.
Earlier, companies needed to wait at least a year before entry into a major index, as they had to first prove their stability to the investors.
Why SpaceX Wants In On Nasdaq 100 Index
Listed companies, if included in a major index, benefit from increased investor attention and demand for shares. It also gives them increased access to deep-pocketed institutional investors who typically buy sizeable positions for their own index funds.
While the NYSE has a similar index for its 100 largest US stocks, it is less widely followed. Inclusion in the Nasdaq 100 offers megacap IPOs deeper liquidity, helping executives and early investors manage large sell orders after lockup periods.
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Reuters reported in February that SpaceX advisers have contacted major index providers, including Nasdaq, to explore early inclusion. Its IPO is expected to be a major event at a time when high-profile startups like OpenAI and Anthropic are also preparing for stock market debuts.
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