NEW YORK: SpaceX has set a $135 share price for its planned initial public offering, breaking with Wall Street convention and putting Elon Musk’s company on course for what could become the largest IPO in history.
The company aims to raise $75 billion in a deal that would value SpaceX at $1.75 trillion, immediately placing it among the 10 most valuable listed companies in the United States.
SpaceX disclosed the price a week before the expected pricing date, an unusual move in a market where companies and bankers normally use investor roadshows to determine a final price range.
The company will begin its investor roadshow on Thursday. Final pricing is expected on June 11, with trading on the Nasdaq due to start the following day.
The listing reflects Musk’s influence over financial markets and strong demand for exposure to SpaceX, despite concerns over its high valuation.
“Nothing about this IPO is normal,” one prospective investor told Reuters.
SpaceX has also departed from traditional IPO practice by planning a larger role for retail investors, seeking early index inclusion and structuring governance to preserve strong founder control.
Reuters previously reported that the company may allocate as much as 30 per cent of the offering to individual investors, an unusually large retail tranche aimed at broadening ownership and tapping into Musk’s global following.
SpaceX is difficult to value because it operates across aerospace, satellite communications, telecoms and defence, with few clear public market comparisons.
The company posted a net loss of $4.94 billion in 2025, while revenue rose 33 per cent to $18.67 billion.
Tim Hatt, head of research and consulting at GSMA Intelligence, said a revenue multiple of more than 90 times was high by any standard, but added that SpaceX was not a traditional company and had no true public comparables.
The roadshow will test investor appetite after early discussions showed SpaceX seeking a valuation of around $1.75 trillion, while some investors preferred $1.5 trillion or lower.
Major international banks, including Mizuho, Deutsche Bank, UBS and Barclays, have been asked to focus on wealthy individual buyers in their home markets.
Robert Pavlik, senior portfolio manager at Dakota Wealth, said he was not buying the shares and described investor interest as being driven largely by the cachet of Musk.
The offering is expected to be closely watched as a test of investor appetite for high-growth technology and space companies, and could reshape how major private firms approach public listings.__Reuters
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