Elon Musk said he is not selling any SpaceX shares, with the company reported to be preparing to file publicly for its long-awaited IPO as soon as next week.
“I'm not selling any shares,” Musk wrote on X in response to a user post that suggested he do so after a lockup period.
The rocket, satellite and artificial intelligence company could file publicly for its IPO as soon as Wednesday, according to people familiar with the matter. It has filed confidentially and is seeking to raise as much as $75 billion at a valuation of more than $2 trillion, which would be the largest IPO of all time.
SpaceX shareholders received a notification on Friday that the company is executing a 5-for-1 stock split, a move that will reduce the price investors will pay for each share offered in the impending IPO. The current fair market value per share has been adjusted to about $105.32 from $526.59 as a result of the split, according to people familiar with the matter.
The company aims to kick off formal marketing for the stock sale as soon as June 4, price its IPO as early as June 11 and list on June 12, Bloomberg reported earlier.
ALSO READ: SpaceX Holders Sign Off On 5-for-1 Stock Split Ahead Of IPO
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
