SpaceX IPO Running at 2X Oversubscribed: Sources

SpaceX has drawn investor demand of about $150 billion for its IPO, about double the $75 billion it is seeking to raise, said two people familiar with the matter Friday. An oversubscription rate of two times would be considered modest for most highly anticipated market flotations — but bankers and investors said that demand is ?impressive for the SpaceX offering since it is the largest IPO ever. The company remains ?in the early stages of the marketing process, sources cautioned. Investor demand is still subject to change before the IPO prices next week. The sources added that ?some large institutional…