Morgan Stanley(US:MS) Jin Rong Jie·2025-12-20 07:13Core Viewpoint - Morgan Stanley is expected to become the lead underwriter for SpaceX's initial public offering (IPO), leveraging its close relationship with CEO Elon Musk [1] Group 1: IPO Preparation - Elon Musk has not yet selected the lead underwriter, but a decision may be made by the end of the year, with the full underwriting syndicate potentially finalized shortly thereafter [1] - Although preparations are underway, the IPO is contingent on market conditions, and SpaceX may choose to delay or abandon the listing altogether [1] Group 2: Morgan Stanley's Role - Morgan Stanley has provided advisory services to Musk for many years, including participation in Tesla's 2010 IPO, which involved a syndicate that included Goldman Sachs, JPMorgan, and Deutsche Bank [1] - The firm also acted as an advisor and led financing in Musk's acquisition of Twitter (now X) in 2022 [1] Group 3: Future Plans - SpaceX's CFO, Bret Johnsen, indicated in an internal memo that the company is preparing for a public listing in 2026 [1]