Saudi Public Investment Fund is considering subscribing to $5 billion worth of shares in the SpaceX IPO.

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Golden Finance reports that on April 3, two people familiar with the matter said SpaceX has been in talks with Saudi Arabia’s Public Investment Fund (PIF) regarding the fund’s potential subscription for its IPO’s major stake at a price that could be around $5 billion. According to relevant sources, this investment would, to a certain extent, help avoid dilution of PIF’s current holding of less than 1% in SpaceX. Three other sources said SpaceX had already begun actively seeking major investors before going public, planning to raise $75 billion—an amount that would exceed prior large initial public offerings, such as Saudi Aramco in 2019 and Alibaba in 2014. The sources said SpaceX is trying to gauge investors’ interest in a transaction of unprecedented scale. No final decision has been made yet, and any investment could change.

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