Major Gulf sovereign wealth funds are said to have committed billions of US dollars to SpaceX’s stock market debut – which stands to be the largest-ever IPO.

Saudi Arabia’s Public Investment Fund (PIF) and Kuwait Investment Authority have made commitments ranging from $1 billion to $5 billion, while Qatar’s state fund is also expected to participate with a sizeable allocation, Bloomberg reported citing sources familiar with the matter.

The IPO of Elon Musk’s rocket company is nearly 4x oversubscribed, having reeled in orders worth $ 250 billion so far, Reuters reported

(Writing by Ahmad Mousa; editing by Daniel Luiz)
Ahmad.mousa@lseg.com