(Dec 7): Elon Musk’s SpaceX has initiated discussions about selling insider shares at a price that values the closely held company at US$175 billion (RM817.78 billion) or more, according to people familiar with the matter.
The most valuable US start-up is discussing a tender offer that could range from US$500 million to US$750 million, said some of the people, who asked not to be identified because the information is confidential. SpaceX is weighing offering shares at about US$95 apiece, the people said.
Terms and the size of the tender offer could change depending on interest from both insider sellers and buyers.
A US$175 billion valuation is a premium to the US$150 billion valuation the company obtained through a tender offer this summer. The increase would make SpaceX one of the world’s 75 biggest companies by market capitalisation, on a par with T-Mobile USA Inc (US$179 billion), Nike Inc (US$177 billion) and China Mobile (US$176 billion), according to data compiled by Bloomberg.
Representatives of SpaceX, formally known as Space Exploration Technologies Corp, didn’t immediately respond to a request for comment.
The Hawthorne, California-based company dominates the market for commercial space launch services with its Falcon rockets. SpaceX also sends payloads to orbit for private-sector customers, as well as for the National Aeronautics and Space Administration (Nasa) and other government agencies.
SpaceX also operates its internet-from-space Starlink service, anchored by a growing constellation of satellites in low-Earth orbit.
SpaceX is on track to book revenues of about US$9 billion this year across its rocket launch and Starlink businesses, Bloomberg News reported last month, with sales projected to rise to around US$15 billion in 2024. The company is also discussing an initial public offering for Starlink as soon as late 2024 — a bid to capitalise on robust demand for communications via space.
Source: TheEdge - 8 Dec 2023
Created by edgeinvest | Jul 26, 2024
Created by edgeinvest | Jul 26, 2024
Created by edgeinvest | Jul 26, 2024
Created by edgeinvest | Jul 26, 2024
Created by edgeinvest | Jul 26, 2024
Created by edgeinvest | Jul 26, 2024
Created by edgeinvest | Jul 26, 2024