SpaceX courts retail investors in push for biggest IPO in history

SpaceX, the aerospace company led by Elon Musk, is preparing to sell its shares on the stock market for the first time.

The company wants to raise about 75 billion dollars, which would make it the largest IPO in history.

Executives believe the company should be valued at around two trillion dollars.

In an unusual step, SpaceX has set aside a large portion of its shares for everyday investors.

Up to 30 percent of the shares could be offered to non-professional buyers.

This is very different from most IPOs, because companies usually focus on large institutional investors first.

The company has planned a summer marketing campaign that will begin on June 7th.

On that day, executives will present information to analysts from the 21 banks that are working on the deal.

Then, on June 11th, SpaceX will host a special event for about 1,500 retail investors.

SpaceX's chief financial officer, Bret Johnsen, explained the company's strategy during a virtual meeting with bankers.

He reportedly said that retail investors are going to be a critical part of this IPO.

He added that the large number of everyday investors was planned by design, not by accident.

This approach is different from what most technology companies have done in the past.

During the 1980s, government privatisations in the United Kingdom gave ordinary people the chance to buy shares for the first time.

However, private companies have rarely offered so many shares to small investors when they go public.

SpaceX is banking on Elon Musk's popularity to attract a wide range of buyers.