SpaceX's IPO is reportedly oversubscribed by several times

Odaily Planet Daily News: According to sources familiar with the matter, as SpaceX's listing draws closer, its initial public offering has attracted subscription demand from institutional investors that is several times 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 sources stated that the number of stock subscription orders has continued to rise since Monday. Some informed sources said that the underwriting banks have indicated that the allocation of shares to institutional investors in this offering will mainly be concentrated among large, pure long-only investment management firms. According to foreign media reports, several institutional investors have each placed orders for approximately $10 billion or more in shares. (Jin Shi)