SpaceX discusses spinning off Starlink via IPO as soon as 2024 – Bloomberg News

(Reuters) -Elon Musk’s SpaceX is discussing an initial public offering for its Starlink satellite business as soon as late 2024, Bloomberg News reported on Wednesday, citing people with knowledge of the matter.

Musk denied the report, calling it “False” in a post on his social media platform X, formerly known as Twitter.

The company has been moving the unit’s assets to a wholly owned subsidiary that would ultimately be spun off in the IPO, Bloomberg reported, adding that the listing could also be delayed to 2025.

Musk had previously said that he intended to list Starlink when revenue growth and cash flow became smooth and predictable.

Earlier this month, he said Starlink had achieved cash-flow breakeven.

SpaceX did not immediately respond to a Reuters request for comment.

(Reporting by Niket Nishant and Akash Sriram in Bengaluru; Editing by Savio D’Souza and Anil D’Silva)