Elon Musk's SpaceX has reportedly set out details of its much anticipated IPO including plans to earmark a large portion of shares for retail investors.
Citing two sources close to the matter, Reuters reports SpaceX held a meeting with its team of bankers on Monday night and discussed plans to host 1,500 retail investors at an event in June following the IPO roadshow launch.
Chief Financial Officer Bret Johnsen reportedly said: "Retail is going to be a critical part of this and a bigger part than any IPO in history."
Explaining the large retail component, he continued: "Those are folks that have been incredibly supportive of us and of Elon (Musk) for a long time, and we want to make sure that we recognise that."
The rocket manufacturer is seeking to raise $75billion with what is expected to be the largest IPO in history.
That would see SpaceX valued at as much as $1.75trillion.
The company plans to make its IPO prospectus public in late May, it said.
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