Asset manager BlackRock sought to buy at least $5 billion worth of shares in the initial public offering of Elon Musk’s SpaceX, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
SpaceX is expected to raise about $75 billion in what would be the world’s largest IPO on record at about a $1.8 trillion valuation.
The order book closed on Wednesday and bankers are determining share allocations ahead of a planned Nasdaq listing on Friday, the WSJ said.
Reuters had previously reported that SpaceX was considering allocating as much as 30% of the offering to individual investors.
Musk has rewritten the IPO playbook for SpaceX in many other ways, from planning to give retail investors a larger role in allocations to pushing for early index inclusion and structuring governance to preserve strong founder control.
SpaceX did not immediately respond to a request for comment, while BlackRock declined to comment. Reuters could not immediately verify the report.
Source: Reuters.com