SpaceX IPO draws more than US$70 billion in retail orders, Bloomberg News reports

Elon Musk's SpaceX has drawn more than US$70 billion (HK$548.5 billion) in orders from retail investors for its blockbuster initial public offering, Bloomberg News reported on Thursday, citing people familiar with the matter.

Retail investors are expected to be allocated at least 20 percent of the shares, Bloomberg News reported, adding that deliberations are ongoing and details of the offering could still change.

SpaceX did not immediately respond to a Reuters request for comment. Reuters couldn't immediately verify the report.

Reuters previously reported that SpaceX was considering allocating as much as 30 percent of the offering to individual investors, an unusually large retail tranche aimed at tapping into Musk's cult-like following.

SpaceX's hotly anticipated debut is scheduled for Friday, with the rocket maker aiming to raise US$75 billion at about a US$1.8 trillion valuation.

The firm has drawn more than US$250 billion of investor demand for what stands to be the largest-ever IPO, Reuters reported on Tuesday, citing people familiar with the matter.

Reuters

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓