What ASIC wants you to know about Elon Musk's SpaceX

Australia's first contribution to SpaceX is a 90-page document to temper investors' imaginations. The second contribution comes this week.

SpaceX and its Australian lawyers Gilbert + Tobin went to ASIC for permission to sell its whopper $US75 billion IPO to Australian retail investors based on its US offer document, without modification, a few months ago.

It was a big ask; never been done before - the capital markets lawyer's equivalent of putting 1 million people on Mars (one of Musk's performance hurdles at SpaceX, no joke). Australia has tougher IPO disclosure requirements to the US particularly for forward-looking statements and forecasts, intentionally designed to make it safer or easier for IPO investors.