SpaceX IPO will not break capital markets but add to strains
The stock debut will widen the valuation gap between the constituents of indices and the companies outside them
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DURING the dotcom bubble, hundreds of companies went public. Yet, only a handful raised more than US$1 billion.
Over the next 25 years, initial public offerings (IPOs) grew steadily larger as businesses and the global economy expanded.
The biggest was Saudi Aramco, which raised about US$29 billion in its 2019 IPO that valued it at about US$1.9 trillion. SpaceX, Anthropic and OpenAI are expected to raise roughly US$170 billion combined at valuations that may exceed US$4 trillion.
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