"A Mega IPO Is Coming"... Will SpaceX's Listing Accelerate Foreign Outflows?

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[Financial News] Global stock markets are buzzing ahead of SpaceX's record-breaking Initial Public Offering (IPO). As a massive amount of capital is expected to flow in, some market watchers say foreign investors could accelerate their exit from the stock market.
\r\nOn the 5th, the Korea Exchange (KRX) said foreign investors sold a net 630.35 billion won in the Korea Exchange Main Board the previous day.
Foreign investors have been on a selling streak for 19 consecutive trading days since the 7th of last month. During that period, their net selling reached 5.99172 trillion won.
Brokerage firms believe that as the domestic stock market has risen sharply, foreign investors have been rebalancing their holdings and taking profits.
Some also interpret SpaceX's listing as a factor accelerating foreign outflows. The view is that investors are cashing out stocks and other assets to secure funds for SpaceX investments.
According to foreign media outlets including CNBC, SpaceX recently filed documents with the U.S. Securities and Exchange Commission (SEC) proposing an offering price of $135 per share. The company plans to raise $75 billion by offering 555.6 million shares.
If the offering price is finalized as planned, SpaceX would be valued at about $1.77 trillion. Based on the U.S. stock market, that would make it the seventh-largest company by market capitalization, behind NVIDIA, Alphabet Inc., Apple, Microsoft, Amazon.com, Inc., and Broadcom Inc.
Park Joon-kyu, a researcher at Samsung Securities Co., Ltd., said, "SpaceX's corporate value has risen about 100-fold in 10 years." He added, "The surge appears to have been driven by rapid revenue growth from the sharp increase in Starlink subscribers and by greater visibility into Starship development."
He added, "As waiting funds build up ahead of SpaceX's IPO subscription, downward pressure on the stock market could intensify." He also noted, "After the listing, funds that were unable to participate in the subscription may return to the stock market, potentially restoring market liquidity."
Kyung-min Lee, a researcher at Daishin Securities, also said, "We need to pay attention to supply-demand pressure from large offerings such as SpaceX, OpenAI, and Anthropic." He explained, "During the offering process, idle funds in the market could be absorbed, and after the listing, passive funds may create selling pressure on existing stocks as they rebalance when the company is added to major indexes."
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jisseo@fnnews.com Seo Min-ji Reporter