NEW YORK: SpaceX plans to raise US$75 billion in its initial public offering by selling 555.6 million shares at a target price of US$135 per share, a source familiar with the matter told Reuters.
Reuters reported earlier on Tuesday that the rocket and satellite communications company hoped to raise at least US$75 billion, at a valuation of US$1.75 trillion.
The specific target price is extremely unusual at this stage because companies planning to go public typically set a price range before talking to investors in a series of presentations called a roadshow. SpaceX’s roadshow begins on Thursday.
Usually a specific target price is not set until the day before the offering.