Elon Musk's SpaceX has drawn more than $70 billion in orders from retail investors for its blockbuster initial public offering, Bloomberg News reported on Thursday, citing people familiar with the matter.Retail investors are expected to be allocated at least 20% of the shares, Bloomberg News reported, adding that deliberations are ongoing and details of the offering could still change.SpaceX did not immediately respond to a Reuters request for comment. Reuters couldn't immediately verify the report.Also Read | SpaceX's blockbuster IPO could turn more than 4,000 employees into millionaires. Here’s howReuters previously reported that SpaceX was considering allocating as much as 30% of the offering to individual investors, an unusually large retail tranche aimed at tapping into Musk's cult-like following.SpaceX's hotly anticipated debut is scheduled for Friday, with the rocket maker aiming to raise $75 billion at about a $1.8 trillion valuation.The firm has drawn more than $250 billion of investor demand for what stands to be the largest-ever IPO, Reuters reported on Tuesday, citing people familiar with the matter.
US stocks | SpaceX IPO draws more than $70 billion in retail orders: Report
SpaceX is gearing up for an IPO that has captured the attention of investors far and wide. With retail investments skyrocketing past seventy billion dollars, investors can expect to snag at least twenty percent of the shares.
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