Citigroup Joins SpaceX IPO Process - Citigroup (NYSE:C)

Group 1 - Citigroup Inc. has been added to the list of banks preparing SpaceX's initial public offering (IPO) [1] - SpaceX is reportedly preparing to confidentially file for an IPO as soon as next month, targeting a June listing that could raise up to $50 billion, potentially becoming the largest IPO in history [1] - The IPO could surpass Saudi Aramco's $29 billion debut in 2019 [1] Group 2 - By filing confidentially, SpaceX can receive SEC feedback and make adjustments before its prospectus becomes public [2] - Discussions regarding the IPO are ongoing, and additional banks may be added to the process [2] - SpaceX is considering a dual-class share structure that could give insiders, including Elon Musk, outsized voting power over corporate decisions [2] Group 3 - SpaceX recently acquired Elon Musk's artificial intelligence startup xAI, valuing SpaceX at about $1 trillion and xAI at roughly $250 billion [3] - Several major banks, including Bank of America, Goldman Sachs Group, JPMorgan Chase, and Morgan Stanley, are working on the IPO [3] - Royal Bank of Canada and Mizuho are also understood to be participating in the IPO process [3]