SpaceX tells banks it won't move its $135-a-share IPO price

SpaceX told banks in its $75 billion initial public offering that it is set on the $135-a-share price that the firm disclosed on Wednesday in its amended IPO ‌filing, sources ⁠told ⁠Reuters.

The company's decision is the latest sign that Elon Musk is intent on holding the largest ever initial offering according to his preferences, upending Wall Street tradition -- though sources stressed that the decision is subject ⁠to change ‌before the IPO takes place. SpaceX didn't immediately respond to a ⁠request for comment.

SpaceX began meeting with investors on Thursday in its IPO roadshow - where securities issuers and their bankers typically gather investor feedback before determining the final IPO price at a meeting held a day before the shares begin ‌trading.


Three sources familiar with the roadshow described demand as insatiable. Analysts working on the IPO ⁠were fielding as many as 20 calls a day from investors, above the 10 to 15 typically seen on in-demand offerings, one of the sources said.

SpaceX's trading debut is expected on Friday, June 12.