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American entrepreneur Elon Musk has confirmed via the X platform that he will not give up his shares in SpaceX for missiles and satellites. The announcement comes as the company prepares for a historic initial public offering that could raise $75 billion at a valuation of more than $2 trillion.
US billionaire Elon Musk, CEO of SpaceX, the leader in space and rocket technologies, confirmed his full commitment not to sell any of his shares in the company, through a brief statement published on the social networking platform X. Musk's decisive stance came in response to the advice of a user who suggested that he take advantage of the expiration of the trading ban to sell his shares, where Musk simply and firmly responded saying: "I will not sell any shares, ”reflecting his deep confidence in the future of his space company. Musk's comments coincide with information obtained by Bloomberg News indicating that SpaceX is close to submitting the pending IPO application, which may be officially launched next Wednesday, after the company submitted a confidential application earlier. The ambitious space company is seeking to raise a whopping $75 billion, with a total valuation that crosses the $2 trillion, which will make this the largest offering of its kind in the history of financial markets in terms of market capitalization. As part of preparations for the IPO, SpaceX notified its shareholders last Friday of its decision to implement a five-for-one stock split, a strategy aimed at making stocks more attractive to investors by reducing the individual price of a stock from $526.59 to about $15.32. According to the projected timeline, you plan to The company will launch its official marketing campaign on June 4, and the final price of the offering will be announced on the eleventh of the same month, with official trading on the stock exchange starting the next day.
Source: Al-Wehda Al-Arabia News Portal
