SpaceX's $75B IPO to eclipse Aramco's $29.4B record

SpaceX's upcoming IPO on Friday is expected to raise around US$75 billion, surpassing the previous record held by Saudi Aramco. Aramco's December 2019 debut raised US$29.4 billion on the Tadawul stock exchange, with only 1.5% of the company floated, driven by domestic and regional demand. Alibaba Group raised US$25 billion in its September 2014 NYSE listing. The list of top IPOs spans oil, e-commerce, finance, and manufacturing sectors. SpaceX's listing marks the rise of tech giants in global capital markets and is part of a series analyzing its impact on Chinese investors, Hong Kong markets, and capital flows.