SpaceX has priced the largest stock market flotation on record, raising about $75 billion (£56 billion) at $135 (£101) a share, even though the company has yet to turn a profit and is going public over warnings that it is overvalued.
Priced on Thursday, 11 June, the deal values Elon Musk's rocket and satellite company at about $1.77 trillion (£1.32 trillion), surpassing Saudi Aramco's 2019 listing, which raised $29.4 billion (£22 billion) and held the previous record, according to the BBC. Analysts at Morningstar value the company at well under half that, and Senator Elizabeth Warren has urged the SEC to delay the offering over its valuation and governance.
