SpaceX shares are set to begin public trading Friday after the biggest IPO of all time, with shadow markets already pricing a debut pop of at least 35%. The $75 billion offering has drawn intense global interest, though retail investors in most of Asia-Pacific remain locked out of direct participation.
Japan and Australia are the only Asia-Pacific countries where retail investors have direct access to the offering, leaving others to seek alternative routes. Investors across the region are getting creative, finding new ways to bet on the company behind Elon Musk’s rocket, satellite, and AI ventures.
Early backers stand to reap multi-billion dollar windfalls. Founders Fund and Andreessen Horowitz, among the largest private investors, are expected to see enormous returns from the listing, according to Seeking Alpha. The IPO has drawn contrasting views on valuation.
Founder ETFs partner Michael Monaghan called SpaceX a “three-in-one opportunity,” while True North Advisors’ Dhruv Maniktala said his firm is positioning as sellers at current levels. The disagreement underscores the high-stakes debate over where the company’s shares will settle.
The listing also comes as easing Iran fears have shifted market focus, with the IPO dominating global trading conversations from Dubai to Tokyo. All eyes will be on Friday’s opening print to gauge whether the hype translates into sustainable gains.