SpaceX, which is preparing for an initial public offering (IPO) in June, plans to hold an investor briefing for 1,500 individual investors. The company intends to open participation in the public offering as widely as possible to retail investors in countries including South Korea.
Reuters reported on Tuesday, citing sources, that SpaceX outlined the plan during a video conference with existing investors and underwriters.
SpaceX plans to host a large-scale investor briefing on June 11, inviting 1,500 retail investors. Sources said the public subscription will be open to retail investors not only in the United States but also in the United Kingdom, the European Union, Australia, Canada, Japan and South Korea. Two people who spoke on condition of anonymity said Chief Financial Officer Brett Johnson stated during the meeting that "individual investors will account for a larger share than in any other IPO."
Founder Elon Musk reportedly wants to allocate up to 30% of the IPO shares to retail investors. Typically, only 5% to 10% is allocated to individuals, with institutional investors taking the majority.
SpaceX will also hold an IPO roadshow for institutional investors during the second week of June, just before the retail investor briefing. The company's management team and 21 underwriters plan to present the listing plan and business outlook. Through the IPO, SpaceX aims to raise $75 billion (approximately 112.85 trillion won), with a post-listing target valuation of $1.75 trillion (approximately 2,633.22 trillion won).