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
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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