SpaceX's IPO reportedly oversubscribed by several times

Odaily reported that according to insiders, as SpaceX's listing approaches, its initial public offering has attracted institutional investor demand for several times the number of shares available. Sources said that lead underwriters for the IPO told investors early Tuesday that demand had increased further following meetings with management. These individuals stated that the number of stock subscription orders has been increasing since Monday. Some informed sources said underwriting banks have separately indicated that the allocation for institutional investors in this offering will mainly focus on large, pure long-only investment management firms. According to foreign media reports, multiple institutional investors have each placed orders for approximately $10 billion or more in shares. (Jin Shi)