SpaceX surged 19% on stock market debut, lifting Saudi billionaire Prince Alwaleed bin Talal's stake to nearly $7 bn
New Delhi, June 15 -- SpaceX's landmark stock market debut has delivered a substantial windfall for Prince Alwaleed bin Talal, the Saudi billionaire whose listed investment vehicle holds tens of millions of shares in Elon Musk's rocket company, pushing his net worth to a decade-high and sending Kingdom Holding Co. sharply higher at Sunday's open.
SpaceX, the rocket and satellite company formally known as Space Exploration Technologies, closed its first day of trading on Friday up 19% at $160.95 per share after raising $75 billion in what stands as the largest market listing on record. The gains were concentrated among a small number of longstanding investors, with Kingdom Holding emerging as one of the more visible beneficiaries.
The fi...
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