business
SpaceX IPO raised $10bn more than thought
Key takeaways
- Elon Musk's rocket company pulled off the biggest initial public offering (IPO) in history when it joined New York's Nasdaq stock exchange last week.
- The listing had raised $75bn from investors, which Musk told employees will be spent funding a "significant growth phase".
- But the banks which backed the IPO exercised a so-called "greenshoe" clause, which let them purchase an extra $10bn of SpaceX shares.
Francisco Velasquez Business reporter Getty Images Space X raised $10bn (£7.5bn) more than initially thought when it sold shares to the public on Friday - bringing in a total of $85.7bn.
Elon Musk's rocket company pulled off the biggest initial public offering (IPO) in history when it joined New York's Nasdaq stock exchange last week.
The listing had raised $75bn from investors, which Musk told employees will be spent funding a "significant growth phase".
Article preview — originally published by BBC Business. Full story at the source.
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