Billionaire Elon Musk's rocket-making company SpaceX is reportedly arranging for four Wall Street investment banks to serve as lead underwriters for what is expected to be the largest IPO in history. Bank of America, Morgan Stanley, Goldman Sachs and JPMorgan Chase are preparing for leadership roles in the IPO, people familiar with the matter said.
As SpaceX prepares for an IPO as soon as this year, company executives have recently held meetings with bankers. The company is currently conducting a sale of existing shares, which is expected to value it at about $800 billion.
Other banks may also get roles in the listing, people familiar with the matter said, but they cautioned that no final decision had been made and the situation could change.
If SpaceX successfully conducts its IPO, it is expected to raise tens of billions of dollars, possibly surpassing the $29 billion raised by Saudi Aramco in 2019 and becoming the largest public offering in history.
SpaceX's listing is poised to join potential super-large U.S. listings from artificial intelligence companies such as OpenAI and Anthropic.
The banks declined to comment. SpaceX did not immediately respond to a request for comment.