Elon Musk’s SpaceX is expected to finalise terms for its initial public offering as early as Thursday morning, setting up what could become the largest sharemarket debut on record.
The rocket launch, satellite and artificial intelligence company is seeking to raise up to US$75 billion, or about A$104 billion, in a float that would far surpass Saudi Aramco’s US$29.4 billion listing in 2019.
Bloomberg News has reported the offer is targeting a company valuation of at least US$1.8 trillion.
Further details are expected in an amended regulatory filing, while Reuters has reported the initial price has been set at US$135 per share.
Setting terms ahead of formal investor briefings would give the market more time to assess the valuation, with SpaceX planning a relatively short roadshow before potential pricing as early as June 11.
Companies are permitted to begin formal marketing 15 days after their initial filing becomes public.