00:00So, Manuel, you've been poring through the details of this. What else did we learn from the filing?
00:06What an exciting, huge IPO, Lizzie. Definitely keeping us busy and, yes, a lot of interesting
00:13details, including the fact that they set a fixed price for the IPO at $135 a share. That is quite
00:22rare, quite unheard of, especially on big listings in the U.S., where they usually set a range and
00:29then after they start testing the market with investors and doing the marketing, they go
00:34either at the bottom or towards the top. Here, you go with a fixed price already, probably
00:40showing the confidence in the IPO getting done and also on how much investor demand there
00:47is globally for these type of AI-related businesses, right? So, more in the horizon as well with
00:54Anthropik and with OpenAI also kind of knocking on the door and next to potentially list in
01:02what would be also billion-plus, multi-billion dollar IPOs. But on this one, SpaceX, definitely
01:09all the eyes on this one is coming as soon as next week. Potentially, the next few days
01:15will be very, very important to see how it's going to play out and how much real investor
01:19demand there is. But the expectations are really, really high. And, as you said, it's
01:24going to likely make Elon Musk an almost trillionaire, which is kind of remarkable as
01:31well.
01:32Truly remarkable. But I feel like we're being drip-fed details here. I'm just ready for
01:37liftoff already, Manuel. What's next for SpaceX on the road to this IPO?
01:44Yes. So, we'll start, Lizzie, the marketing with investors starts as soon as today, Thursday. And
01:53then, obviously, the next few days will be critical as they gather the momentum and they fill in
02:00the books. Potentially, you know, offering the shares next week and the trading debut next week
02:08as well. So, those are the next key steps. It'll be interesting to see what kind of demand they
02:15get, what kind of investors they get into the books as well. I mean, there's more than 20 investment
02:21banks working on this. We've also been reporting about the fees and how minimal they're going to be.
02:28Yet, you know, banks will reap more than $500 million, possibly, in terms of banking fees for
02:36this huge offering. So, there's a lot of nitty-gritty details that will come to light
02:42in the coming days as we have more clarity on the type of investor base for the IPO. But I
02:49think
02:49we now have a clear sense on the size. We have a clear sense also on the potential value, $1
02:55.8 trillion
02:56in market value. That is really huge. It's quite remarkable just compared with other companies,
03:01some of the biggest in the Standard & Poor's index, for instance. So, definitely one. And I think
03:07what the main consequences for the rest of the world, not just in the U.S., which is a really
03:12hot
03:13ECM market right now, but also the ripple effects in Europe and here in Asia, where we are seeing a
03:18lot
03:18of AI-related IPOs here in Hong Kong, for instance. It will be interesting to see how they play out
03:25as well.
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