Scottish Mortgage has said its holding in SpaceX is worth nearly £3billion ahead of a potential highly anticipated IPO this summer.
The investment trust, which holds £15billion in assets, invested £151million in Elon Musk’s rocket firm from December 2018 until August 2021.
SpaceX has since become the trust’s largest holding, accounting for 19.3 per cent of the portfolio, as its valuation soared.
It now values the holding at £2.92billion based on its own valuation of SpaceX at $1.25trillion, an increase of around 19 times the original investment.
That could increase if the listing reaches the widely-reported $1.75trillion, while avoiding a writedown if the valuation
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