Riyadh – Mubasher: SpaceX completed its initial public offering (IPO) on Nasdaq at an offering price of $135 per share and closed its first day of trading at $160.95, according to a bourse statement issued by Kingdom Holding Company.
The Saudi group currently holds 42.40 million shares of SpaceX Class A common stock with a carrying value of $4.47 billion (SAR 16.76 billion) as per the financial statement disclosed at the end of March 2026.
Based on the Friday closing share price, the fair value of Kingdom Holding’s stake amounts to nearly $6.83 billion (SAR 25.60 billion).
In accordance with the terms of the IPO, the SpaceX shares held by the Saudi company are subject to a lock-up period of up to 180 days from the date of listing, with certain early release provisions, subject to conditions including SpaceX's earnings releases and share price performance thresholds.
Meanwhile, Kingdom Holding stated that this transaction may result in the reclassification of its SpaceX investment from Level 3 to Level 1 within the IFRS 13 fair value hierarchy, as the shares are now traded on an active market.
The company expected its shareholding in SpaceX would increase to SAR 21.26 billion ($5.67 billion) following the listing.
