What S’pore investors should know about SpaceX’s $2.25 trillion IPO

Analysts anticipate volatile first day of trading, say IPO could be overvalued

- Benjamin Lim

SpaceX’s hotly anticipated initial public offering (IPO), set to be the largest in history, has caught the attention of Singapore investors hoping to catch the AI wave and own a piece of one of the world’s most closely watched tech companies.

Ahead of its June 12 Nasdaq debut, the tech giant’s IPO - valued at US$1.75 trillion (S$2.25 trillion) — is well oversubscribed, drawing in double the US$75 billion it is seeking to raise.

SpaceX, which develops space rockets and also owns AI firm xAI, will be the first artificial intelligence company to go public, ahead of Anthropic and OpenAI. It has reportedly earmarked about 30 per cent, or US$22.5 billion, for retail investors.

Here’s what Singapore investors should know about the Elon Musk-founded company ahead of its blockbuster listing.

Retail investors in Singapore would most likely have to wait until after SpaceX goes public on June 12 before they can buy its shares.

The company has picked a handful of brokerage firms in the US to distribute its shares to retail customers in the country, including Fidelity Investments, Robinhood Markets and SoFi.

But IPO participation is subject to eligibility requirements. While investors can still submit an indication of interest first before the June 10 deadline, there is no guarantee that their order would be fulfilled.

While Singapore has been named by SpaceX as one of the countries where qualified investors might be able to participate, retail brokerage firms in Singapore told The Straits Times that they are not participating in the IPO distribution process.

Retail investors will be able to buy SpaceX shares through their brokerage platforms once the company begins trading on Nasdaq under the ticker SPCX.

These include online brokerages such as Tiger Brokers, Moomoo, Phillip Securities and Syfe, as well as bank-backed trading platforms such as DBS Vickers.