SpaceX IPO sets CommSec record at more than 28,000 applications
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The news: CommSec has confirmed that it received more than 28,000 applications for the SpaceX IPO, which is more than four times the previous IPO applicant record.
The numbers: SpaceX’s IPO on 12 June was worth about USD75 billion ($106 billion), with the Nasdaq-listed company now valued at nearly USD2.7 trillion.
CommSec acted as the lead Australian retail broker, providing eligible Australian retail investors access to SpaceX’s IPO. In the lead up, a record 37,000 international accounts were opened on CommSec.
The context: Macquarie Capital was the Australian coordinator on the IPO, as previously reported by Capital Brief. Gilbert and Tobin was the Australian legal adviser and Mallesons acted as adviser to the underwriters.
What they said: “CommSec customers have shown record interest in this landmark IPO, with many opening international accounts specifically to access the offer,” CommSec head of equity capital markets Carl Merchant said.
“It reflects the growing demand from Australian retail investors to complement domestic exposure with access to global market opportunities, and reinforces to corporates globally that Australia is a compelling market in which to raise capital.”
The source: CommSec statement
