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Morgan Stanley's E*Trade in talks to lead SpaceX IPO for small investors: Reuters
SpaceX may allocate up to 30% of its IPO shares to U.S. retail investors, with Morgan Stanley’s E*Trade favored to lead retail sales over rival brokerages, sources said.
- Morgan Stanley's E*Trade is in talks to lead SpaceX's retail share sale in its highly anticipated initial public offering, potentially favoring the brokerage over rivals Robinhood Markets Inc. and SoFi Technologies Inc.
- SpaceX is considering allocating up to 30% of its shares to retail investors to capitalize on founder Billionaire Elon Musk's "rabid fan following" during the highly anticipated offering.
- Although rivals Robinhood, SoFi, and Fidelity pitched for roles, Morgan Stanley—a lead underwriter—is expected to route retail demand through E*Trade, potentially excluding those competitors from the deal.
- Excluding these platforms is unusual, as they have become fixtures in marquee listings including the $55 billion IPO for Arm Holdings and the $9.9 billion debut of Instacart in 2023.
- SpaceX is set to file confidentially this month for an offering that could raise as much as $75 billion, though plans remain preliminary and subject to change.
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SpaceX IPO: E*Trade Reportedly Leads Retail Push As Robinhood, SoFi Compete For Role - Robinhood Markets
E*Trade emerges as the frontrunner to lead retail allocations for the historic SpaceX IPO. Robinhood (HOOD) and SoFi (SOFI) face potential exclusion from the deal.
·New York, United States
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Exclusive: E*Trade in talks to lead SpaceX IPO share sale to small investors in US, sources say
Morgan Stanley's E*Trade is in talks with SpaceX to take the lead in selling the rocket maker's shares to everyday U.S. investors in its highly anticipated IPO later this year, giving it an edge over rival brokerages Robinhood Markets and SoFi, according to two people familiar with the matter.
·United Kingdom
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Total News Sources16
Leaning Left4Leaning Right2Center4Last UpdatedBias Distribution40% Left, 40% Center
Bias Distribution
- 40% of the sources lean Left, 40% of the sources are Center
40% Center
L 40%
C 40%
R 20%
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