SpaceX looks at IPO listing on Nasdaq by June 12: Report

This listing is expected to headline the crowded IPO calendar this year which could also include AI heavyweights such as OpenAI and Anthropic.

By CNBC-TV18

Elon Musk's SpaceX is looking at listing its shares on Nasdaq as early as June 12, news agency Reuters reported citing sources.

This listing is expected to headline the crowded IPO calendar this year which could also include AI heavyweights such as OpenAI and Anthropic.

SpaceX's debut comes at ​a pivotal moment for the IPO market, which has rebounded after struggling over the past couple of years amid volatility ​fueled by U.S. tariff policy and geopolitical uncertainty.

Set to trade under the ticker 'SPCX', the company has accelerated its ⁠IPO timeline and is now aiming to make its prospectus public as early as next Wednesday, with a roadshow launch targeted for ​June 4 and the share sale as early as June 11, according to three sources familiar with the matter.

The new plan to IPO ​during the second week of June represents a quicker-than-expected timeline for SpaceX's offering, moving forward a process that had initially been targeted for late June — around the time of Musk's birthday — the sources said, requesting anonymity as the discussions are private.

A faster-than-expected review of the company's IPO paperwork by the US Securities and Exchange ​Commission was partially responsible for the company's move to bring forward the listing timeline, the sources added.

SPCX was previously the ticker for ​Tuttle Capital Management's SPAC-focused ETF before the firm switched to the SPCK ticker in April. The move at the time triggered speculation about SpaceX potentially choosing ‌the ⁠newly available ticker.

Reuters firat reported in March that SpaceX was leaning toward listing its shares on the Nasdaq, as it sought early inclusion on the Nasdaq-100 index (.NDX), opens new tab.

SpaceX did not immediately respond to Reuters' requests for comment. Nasdaq and the SEC declined to comment, Reuters reported.

The listing would mark a major victory for Nasdaq, staving off competition from its crosstown rival, the New York Stock Exchange.

It comes on the heels of the ​recent rollout of Nasdaq's highly ​anticipated 'fast entry' rules to speed ⁠up the entry of newly listed large-cap companies to its benchmark Nasdaq-100 index. Other leading index operators like S&P Dow Jones Indices and FTSE Russell have also launched similar rules to fast-track new listings to their ​respective benchmarks, seeking to turbocharge the pipeline of IPOs.

Nasdaq has previously said that it widely sought feedback ​from market participants ⁠on the fast-entry rules and that it had a transparent index governance process.

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SpaceX is likely to target a raise of about $75 billion at a valuation of roughly $1.75 trillion, which would make it the biggest stock market flotation of all time, Reuters has previously reported. The $1.75 trillion target represents a ⁠significant step ​up from the $1.25 trillion combined valuation set when SpaceX merged with Musk's artificial ​intelligence startup xAI in February.

Morgan Stanley, Bank of America, Citigroup, JPMorgan, and Goldman Sachs are the lead bookrunners for the offering, with 16 other banks in smaller roles spanning ​institutional, retail and international channels.

With inputs from Reuters