ZEIT ONLINE: IPOX® Associate Lukas Muehlbauer Discusses Market Absorption Risks Around Mega IPOs

ZEIT ONLINE, the digital news platform of the German weekly newspaper DIE ZEIT, interviewed IPOX® Associate Lukas Muehlbauer on the potential market impact of an unusually large wave of planned IPOs and new share offerings. The article focuses on SpaceX’s expected IPO, alongside possible listings from Anthropic, OpenAI, Databricks, and Stripe, and asks whether markets can absorb hundreds of billions of dollars in new equity supply without triggering volatility elsewhere.

Muehlbauer provided IPOX®’s perspective on the scale of the SpaceX transaction, noting that the company’s planned $75 billion raise would make it the largest IPO in history. He also commented on the broader implications of additional mega listings and large share offerings by major technology companies, explaining that other companies may seek to use favorable market conditions to raise capital as investor demand for new equity remains strong.

The article also highlights a longer-term liquidity question for public markets. While SpaceX may initially float only a small percentage of its shares, additional supply could reach the market as insider selling restrictions expire over subsequent quarters. Muehlbauer noted that this later increase in tradable shares may represent the real test for investors, since the market would need to absorb a significantly larger volume beyond the initial IPO.

Read the full article by Victor Gojdka on ZEIT ONLINE (German): Warum die Euphorie um die Mega-Börsengänge trügt