SpaceX rocket launch scene [AP=Yonhap News Archive]

American aerospace company SpaceX has received subscription orders for its initial public offering (IPO) worth trillions of won from major asset managers including BlackRock, ahead of its largest-ever IPO, the Wall Street Journal (WSJ) reported on the 11th (local time), citing sources familiar with the matter.

According to the report, BlackRock ordered to purchase shares worth at least $5 billion (approximately 7.6 trillion won) in the SpaceX public offering, which closed the previous day.

The newspaper also reported that orders from other large asset managers besides BlackRock were also at an astonishing level.

Orders poured in from overseas sovereign wealth funds as well as family offices managing the assets of ultra-high-net-worth individuals, with some family offices placing orders exceeding $1 billion (approximately 1.5 trillion won).

Considering that the total funds raised by Cerabros, an AI chip company, which was considered the largest IPO of the year prior to SpaceX, amounted to $5.55 billion (8.4 trillion won), an enormous amount of institutional investor capital is flowing in.

Earlier, Bloomberg News reported on the same day that the total amount of orders from individual investors wishing to subscribe to SpaceX exceeded $100 billion (approximately 153 trillion won).

Despite some criticism from Wall Street that SpaceX's IPO valuation is excessively high and that CEO Elon Musk wields unprecedented control, both individual and institutional investors are rushing to secure shares in this IPO.

SpaceX aims to raise a record $75 billion by selling approximately 556 million Class A common shares at $135 per share in this offering.

SpaceX will finalize the offering price today. The listed shares are scheduled to trade for the first time on the Nasdaq market during trading hours on the 12th.