SpaceX IPO targets 30% retail allocation to raise $75 billion

Retail investors in the U.S., U.K., EU, EU, Australia, Canada, Japan, and South Korea will have access to shares up to six times the typical 5% to 10% IPO allocation. SpaceX is setting aside as much as 30% of share allocations for retail investors, a departure from the typical IPO market. The company is aiming to raise as much as $75 billion at a target valuation of $1.75 trillion. This follows a confidential IPO filing with the SEC on April 1. Chief Financial Officer Bret Johnsen stated that retail participation will be a bigger part of this IPO than any other in history. SpaceX plans to host a retail investor event on June 11 for 1,500 attendees.