SpaceX’s IPO Reportedly Receives Multiple Times Oversubscription

Odaily Odaily reported that, according to sources familiar with the matter, as SpaceX's listing approaches, its initial public offering has attracted subscription demand from institutional investors several times larger than the available shares. Sources said that the lead underwriter for the IPO informed investors early Tuesday that subscription demand had further increased following meetings with management. These individuals noted that the number of stock subscription orders has been rising steadily since Monday. Some informed sources said that the underwriting banks have separately indicated that the allocation for institutional investors in this offering will mainly focus on large long-only investment management companies. According to foreign media reports, several institutional investors have each placed orders to subscribe to approximately $10 billion or more worth of shares. (Jinshi)