Interstellar aircraft carrier with a market value of $1.75 trillion sets sail: SpaceX plans to embark on a heavyweight IPO in June, with a luxury "escort fleet" composed of 21 top investment banks.

Notice that, according to informed sources on Tuesday, SpaceX is working with at least 21 banks to conduct its highly anticipated IPO, which is one of the largest underwriting syndicates in recent years. The IPO, internally codenamed "Project Apex," is expected to be one of Wall Street's most watched stock market debuts. The public offering is expected to take place in June, and it is estimated that the valuation of the rocket company controlled by founder and CEO Musk will reach $1.75 trillion. Sources said that Morgan Stanley, Goldman Sachs, JPMorgan Chase, Bank of America, and Citigroup will serve as active bookrunners, responsible for managing the transaction. Sources added that another 16 banks have signed on to serve in secondary roles. Approximately half of the banks on the list have not been reported before. The large size of the underwriting syndicate highlights the scale and complexity of the planned issuance. In addition to the active bookrunners, other banks include: Allen & Co, Barclays Bank, BTG Pactual Bank of Brazil, Deutsche Bank, International Netherlands Group, Macquarie, Nomura Securities, Needham & Co, Raymond James, Royal Bank of Canada, France Industrial Bank, Santander Bank, Stifel, UBS Group, Wells Fargo, and William Blair. It is expected that these banks will take on corresponding responsibilities in the institutional, high net worth, and retail investor channels, as well as in different geographical regions. Sources said that the plan could still change, with the possibility of adding more banks. In recent years, large underwriting syndicates have become increasingly common in mega-sized transactions. When ARM Holdings went public in 2023, they worked with nearly 30 banks, and Alibaba Group also assembled a similarly sized underwriting team for its record-breaking debut in 2014.