Until well after midnight on Wednesday, bankers huddled in a room on the 41st floor of Goldman Sachs’ New York office portioning out the most sought-after initial public offering in history.
With Elon Musk looming over proceedings by video, SpaceX president Gwynne Shotwell and chief financial officer Bret Johnsen combed through orders at the top of the book, reallocating oversubscribed shares among Middle Eastern sovereign wealth funds and the biggest US institutions.
More than 20 investors received billion-dollar-plus chunks of the deal, 10 times the previous record for any IPO, people familiar with the matter told the FT.
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