SpaceX plans record retail investor push as IPO roadshow targets June

The rocket maker is preparing what could be the biggest initial public offering in history, with an unprecedented retail focus.

SpaceX, Elon Musk's rocket and satellite company, has outlined plans for its long-awaited stock market listing, telling bankers it intends to give retail investors a larger allocation than any initial public offering (IPO) in history.

Reuters exclusively reported that the company briefed its full banking syndicate on Monday night, with chief financial officer Bret Johnsen telling attendees that retail participation would be "a critical part of this and a bigger part than any IPO in history."

SpaceX plans to host 1,500 retail investors at an event in June following the launch of its roadshow, which is expected to begin in early June.

Johnsen said the decision to prioritise retail investors reflected the loyalty of long-term supporters of the company and of Musk personally.

The IPO is expected to be the largest ever, with SpaceX seeking to raise $75 billion and targeting a valuation of as much as $1.75 trillion.