Elon Musk’s rocket company has attracted over $70 billion in investment orders from individual investors ahead of its highly anticipated stock market launch, according to a Bloomberg News report published Thursday that cited sources with knowledge of the situation.
Individual investors are anticipated to receive a minimum of 20% of available shares, the Bloomberg report indicated, though it noted that discussions continue and offering specifics may still be modified.
The space exploration company did not provide an immediate response to Reuters’ request for comment. Reuters was unable to independently confirm the Bloomberg report.
Reuters had previously reported that the rocket manufacturer was weighing the possibility of designating up to 30% of the stock offering for individual investors, representing an uncommonly large portion for retail participation designed to capitalize on Musk’s devoted fanbase.
The eagerly awaited market launch is set for Friday, with the aerospace company targeting $75 billion in fundraising at approximately a $1.8 trillion company valuation.
The company has attracted over $250 billion in total investor interest for what is positioned to become the biggest initial public offering on record, Reuters reported Tuesday, citing sources with knowledge of the situation.
