Morgan Stanley is emerging as one of the main candidates to play a key role in the enormous public offer initial of SpaceXsince the bank’s close ties with the CEO Elon Musk give him an advantage in his decision, according to three people familiar with the matter.
A selection process for the IPO is still underway, with a select group of banks, including Morgan Stanley, Goldman Sachs and JPMorganvying for roles, four people familiar with the matter said, adding that there is no certainty that Morgan Stanley will secure the coveted lead underwriter position, according to the sources.
Musk’s ties to Morgan Stanley run deep and date back at least 15 years, making him the leading candidate to lead the insurers union, according to three of the people consulted, although no bank has yet been selected and talks remain fluid.
The sources spoke on condition of anonymity because the conversations are confidential. Morgan Stanley, Goldman Sachs and JPMorgan declined to comment, while SpaceX did not respond to a request for comment.
SpaceX is one of the largest private companies in the world and its possible IPO would be very complex.
Although Musk has not yet chosen the top banks, he could make a decision before the end of the year, and the entire syndicate will likely close afterward, two of the people added.
The people warned that although plans are progressing, the IPO It remains dependent on market conditions, and SpaceX could choose to delay or abandon the offering altogether.
Morgan Stanley, which has advised Musk for years, was among the banks that took him public. tesla in 2010, together with Goldman Sachs, the lead coordinator, JPMorgan and Deutsche Bank.
Morgan Stanley later advised Musk and led the financing of his 2022 acquisition of Twitter, now X.
Musk recently hired one of his Morgan Stanley bankers in that deal, Anthony Armstrong, as CFO of his investment company. artificial intelligencel xAI.
