For the sake of fairness, Swedish small savers are being let into the allocation. Anyone who wants to subscribe for SpaceX shares in the new issue that is being carried out in connection with Friday's listing on the Nasdaq stock exchange in New York has until 12:00 on Thursday to submit their expression of interest.
Announcement of allocation on Friday
Then Nordnet - which has been granted the right to broker shares in the issue - will compile the requests received and send the lists to the banks that SpaceX has hired to make the actual allocations.
"Customers will receive notification of allocation on an ongoing basis starting on Friday morning, and the plan is for everything to be ready before the U.S. market opens at 3:30 p.m. Swedish time on Friday," writes Johan Tidestad, communications manager at Nordnet, in an email to TT.
In the expression of interest, customers apply to subscribe for a certain number of shares. The price per share will only be determined later.
"Exactly how the allocation will be made is not yet known," writes Tidestad.
When it comes to the risks for small savers to subscribe to SpaceX shares, Nordnet has no red flags.
"We do not provide financial advice. We provide the opportunity for our customers to subscribe to shares in SpaceX, and make information about the company and the listing available so that you as a saver can make an informed investment decision yourself," writes Tidestad.
“You have to do your own analysis”
Aktiespararna's Chief Legal Officer Sverre Linton is pleased that Swedish small savers can be involved from the start, which normally makes it easier to make money from the IPO.
"You have to do your own analysis, as always, of the valuation and the business model," he says about the risks.
He adds that small savers should also be aware that it is not a stock with a connection to Sweden.
So you can't expect everything to work the way it does on the Swedish stock exchange. It's a different set of rules, a different corporate law, where in general the rights of small savers don't always carry as much weight as they do in Sweden.
The subscribe-and-sell strategy - where you participate in the new issue but sell as soon as trading begins - has proven quite successful in other IPOs. But there are no guarantees of profit, Linton points out.
But generally it has been profitable to subscribe and then sell the shares quickly, he says.
The largest IPO of all time is about to take place on the Nasdaq Stock Exchange in New York. Elon Musk's SpaceX company will issue 555.6 million shares at $135 each, raising $75 billion in new capital.
The entire company - which has the ticker symbol SPCX on the stock exchange - is valued at around $1.8 trillion ($1,800,000,000,000) at that share price, which converted into kronor would be almost 17.1 trillion kronor.
Demand for the stock far exceeds supply in the IPO process, according to Bloomberg's sources. And SpaceX's valuation could ultimately end up at a completely different level.
In addition to the Starlink satellite business, Elon Musk's SpaceX conglomerate also includes space transportation, the social network X (formerly Twitter) and the AI service Grok.
