Goldman Sachs shares rise 5.8%; SpaceX 6IPO bookrunner selected for
Goldman Sachs, as 6IPO bookrunner for SpaceX, saw its shares rise by 5.8%. SpaceX's valuation was set at 2trillion dollars, and underwriting fees could exceed 10billion dollars.
Goldman Sachs shares rose by 5.8%. The company has been appointed a bookrunner for SpaceX's listing. Goldman Sachs will play a key role as a lead bookrunner.
The news was announced on 5 of 20. SpaceX's listing is scheduled for 6. The listing schedule will be confirmed in a further disclosure.
SpaceX's pre-IPO valuation was set at 2trillion dollars. It was indicated that underwriting fees in the listing process could exceed 10billion dollars. The total fees and their allocation will be finalized in the final offering.
The underwriting fees will be shared by 21 banks. Goldman Sachs is set to receive a substantial portion as lead underwriter. Morgan Stanley is participating as a co-lead but has been classified in a lower-priority position.
The specific fee allocation percentages have not been disclosed at this time. The offering price and final fee allocation will be confirmed in the securities registration statement and disclosures to be filed. The participating banks will announce the relevant agreements and the timing of revenue recognition in official disclosures.
Preparations for the listing include a roadshow, a presentation for investors, and the filing of documents. The relevant documents will be available in future disclosures. The timing of when the participating banks reflect the transaction in their results will also be announced in disclosures.
Sources: The Motley Fool
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