May 19 (Reuters) – Goldman Sachs is expected to secure the much-coveted lead left position in Elon Musk’s rocket and satellite maker SpaceX’s initial public offering, a source familiar with the matter told Reuters on Tuesday.
The position refers to the bank that holds the most senior and prominent role among all the underwriters of an IPO deal.
Both Morgan Stanley and Goldman will be serving as the lead bankers on the IPO prospectus, which could be released as soon as Wednesday, the source said.
Goldman declined to comment when contacted by Reuters, while SpaceX and Morgan Stanley did not immediately respond.
Morgan Stanley, which has advised Musk for years, took Tesla public in 2010, alongside Goldman Sachs, which was the lead left underwriter, and others.
SpaceX’s debut comes at a pivotal moment for the IPO market that has rebounded after struggling over the past couple of years due to volatility fueled by U.S. tariff policy and geopolitical uncertainty.
The space firm is likely to target raising about $75 billion at a valuation of roughly $1.75 trillion, which would make it the biggest stock market flotation of all time, Reuters has previously reported.
The $1.75 trillion target represents a significant step up from the $1.25 trillion combined valuation of SpaceX and Musk’s artificial intelligence startup xAI, when they merged in February.
SpaceX is aiming to list its shares as early as June 12 and has picked the Nasdaq as the trading venue for its blockbuster market debut, Reuters exclusively reported last week.
Bank of America, Citigroup and JPMorgan are also among the banks slated to lead the highly anticipated listing, with 16 other banks in smaller roles spanning institutional, retail and international channels.
The Wall Street Journal first reported about Goldman’s lead left role earlier on Tuesday.
(Reporting by Juby Babu in Mexico City and Echo Wang in New York; Editing by Shinjini Ganguli)
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