SpaceX plans outsized retail allocation in record IPO, Reuters reports By Investing.com

Investing.com-- SpaceX is planning an initial public offering with an unusually large allocation for retail investors, in a move that could reshape how major listings are structured, Reuters reported on Monday, citing people familiar with the matter.

The Elon Musk-led rocket maker told bankers in a meeting on Monday it intends to reserve a significant portion of shares for individual investors and host about 1,500 of them at a major event in June following the IPO roadshow launch, the report said.

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Chief Financial Officer Bret Johnsen said retail participation would be "a critical part" of the offering and larger than in any IPO to date, reflecting long-standing support from individual investors, according to Reuters.

The company is seeking to raise about $75 billion in what could be the largest IPO ever, potentially valuing SpaceX at up to $1.75 trillion, media reports showed previously.

SpaceX plans to begin its roadshow in the week of June 8, with analysts from 21 banks scheduled to meet the company ahead of investor presentations. A large retail-focused event is planned for June 11, with participation expected from investors across the United States, Europe, and Asia, Reuters reported.

Lead underwriters include Morgan Stanley, Bank of America, Citigroup, JPMorgan, and Goldman Sachs.

The final structure and allocation are expected to be determined closer to launch, the report added.