Saudi, UAE Investors Plan To Invest In Spacex
Date
3/23/2023 7:18:34 AM
(MENAFN- Trend News Agency) A unit of Saudi Arabia's investment fund and an Abu Dhabi-based
company are planning to invest in a multi-billion dollar funding
round for Elon Musk-led SpaceX, The Information reported on
Wednesday, citing people familiar with the discussions, trend reports with reference
to reuters .
The funding round is expected to value the rocket maker at about
$140 billion, the report added.
SpaceX raised $2 billion in 2022 and $2.6 billion in 2020,
according to venture capital firm Space Capital.
The company and Morgan Stanley's representatives have told
investors that Saudi Arabia's Water and Electricity Holding
Company, part of the country's sovereign wealth fund, and United
Arab Emirates' Alpha Dhabi are part of the funding round, according
to the report.
SpaceX, Saudi Arabia's Public Investment Fund and Alpha Dhabi
did not immediately respond to a Reuters request for comment.
MENAFN23032023000187011040ID1105845797
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.