Morgan Stanley Seen as Front-Runner for SpaceX IPO

Morgan Stanley is emerging as a leading contender for a key role in SpaceX’s blockbuster initial public offering, as the bank’s close ties to CEO Elon Musk give it an edge in the decision, according to three people familiar with the matter, Echo Wang, Joey Roulette and Milana Vinn reported for Reuters.

Musk’s ties to Morgan Stanley run deep, dating back at least 15 years. (Photo: Morgan Stanley) 

A selection process, or “bake-off,” for the IPO is still underway, with a select group of banks — including Morgan Stanley, Goldman Sachs and JPMorgan — vying for roles, four people familiar with the matter said.

However, there is no certainty Morgan Stanley will secure the coveted “lead left” underwriting position, the sources added.

Musk’s ties to Morgan Stanley run deep, dating back at least 15 years, leaving it widely viewed as the front-runner to lead the syndicate of underwriters, three of the people said. No banks have been formally selected, and discussions remain fluid.

The sources spoke on condition of anonymity because the talks are confidential.