Citigroup Joins Banks in $50B SpaceX IPO Preparation Ahead of June Listing
Citigroup has joined banks preparing SpaceX’s IPO as early as next month aiming for a June listing that could raise up to $50 billion at a $1.75 trillion valuation. The bank’s underwriting role in what could become the largest IPO ever may significantly boost its investment banking fees and revenues.
1. SpaceX IPO Valuation and Timeline
SpaceX is reportedly preparing a confidential IPO filing as early as next month, targeting a June listing that could raise up to $50 billion and imply a $1.75 trillion valuation. This prospective market debut would surpass the $29 billion record set by Saudi Aramco and position SpaceX among the largest public companies by market cap.
2. Citigroup's Role in the IPO Process
Citigroup has been selected among the group of lead banks coordinating the IPO, joining other global underwriters to structure and price the offering. The bank will advise on deal size, share allocation and help manage the roadshow to institutional investors worldwide.
3. Potential Revenue Impact for Citigroup
Underwriting a deal of this scale could generate substantial fees, with investment banks typically earning 1% to 2% of total proceeds. For a $50 billion offering, Citigroup’s portion could translate to hundreds of millions in underwriting and advisory revenue.
4. Market Expectations and Governance Structure
Market participants expect SpaceX to adopt a dual-class share structure to preserve founder control post-IPO, mirroring setups used by other tech giants. Investor appetite remains high, with prediction markets assigning over 80% probability to an IPO announcement before August 1, 2026.