Key insights
- Goldman Sachs is expected to lead SpaceX's IPO, potentially the largest ever at a $1.75 trillion valuation. While positive for GS and MS, the broader market impact is limited. A successful IPO could boost sentiment, but the direct effect on major equity indices is likely minimal.
Investing.com-- Goldman Sachs (NYSE:GS) is expected to be named lead banker on SpaceX’s behemoth initial public offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
Morgan Stanley (NYSE:MS) is also a lead banker, but Goldman is expected to take the lead-left position in the IPO prospectus, which could be made public as early as Wednesday, the WSJ report said.
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Bloomberg and Reuters reported similar developments. Bank of America Corp (NYSE:BAC), Citigroup Inc (NYSE:C) and JPMorgan Chase & Co (NYSE:JPM) also appeared in alphabetical order on the preliminary prospectus, reports said.
SpaceX is expected to price its IPO as soon as June 11, with the Elon Musk-led space company aiming to raise up to $75 billion at a valuation of $1.75 trillion– making it the largest IPO in history.