ME News reports that on May 29 (UTC+8), Danish pension fund AkademikerPension decided to add SpaceX to its exclusion list due to concerns over the company’s governance. This comes as SpaceX prepares for its IPO and seeks a valuation of at least $1.8 trillion. According to sources familiar with the matter, the company plans to raise up to $75 billion, which, if successful, would be the largest IPO in history. AkademikerPension, which manages approximately $25 billion in assets, previously excluded Tesla (TSLA.O) and U.S. Treasuries from its portfolio on sustainability grounds. The fund stated that its “primary reason” for avoiding SpaceX relates to ESG (Environmental, Social, and Governance) factors—particularly the company’s “extremely poor” governance practices. The pension fund added, “That said, if we assess SpaceX as an exceptionally attractive investment opportunity from a return perspective, we would be unable to justify this decision.” However, as long-term investors, our view is that the company’s valuation has also become severely overextended. (Source: ChainCatcher)
Danish Pension Fund Blacklists SpaceX Over Governance and Valuation Concerns
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The Danish pension fund AkademikerPension has blacklisted SpaceX over governance and valuation concerns, citing ESG factors. The $25 billion fund excluded the company ahead of its IPO, which aims to raise up to $750 billion in project funding. SpaceX is targeting a $1.8 trillion valuation—the largest in history. The decision comes amid growing developments in real-world assets (RWA), as firms increasingly connect traditional finance with emerging sectors.
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