SpaceX's IPO is already four times oversubscribed

SpaceX's IPO has already drawn orders for more than four times the shares available. The institutional book closes Wednesday after the Wall Street close; the price is set at $135 per share, for 555.6 million shares and expected proceeds of about $75 billion.

The implied valuation is $1.8 trillion. Pricing is expected in mid-June, with trading on Nasdaq and Nasdaq Texas under the ticker SPCX.

If confirmed, it would be the largest IPO in history, surpassing Saudi Aramco's $29.4 billion listing in 2019.