SpaceX said to cut retail allocation to 20%

 SpaceX is reducing its blockbuster initial public offering (IPO) retail allotment to 20%, which is less than the initial estimates of 30%, CNBC reported on Thursday, citing a person familiar with the matter.

The move, according to the outlet, comes amid very high institutional demand for the eagerly awaited listing, which is projected to be worth over $1.8 trillion after its trading debut. According to the source, the allocation decisions are nearly finalized and could still change.

SpaceX is set to begin trading on Friday, in what is poised to become the largest public offering in history. Retail allocation is the percentage of shares reserved for individual, non-professional investors. Historically, US IPOs allocate 5% to 15% of shares to retail investors. However, for certain highly anticipated companies, this can be raised to 20% to 35%.

https://breakingthenews.net/Article/SpaceX-said-to-cut-retail-allocation-to-20/66491756