Musk reportedly plans to allocate 30% of SpaceX's new shares to retail investors, breaking with US IPO conventions.

PANews reported on March 27th that, according to Cailian Press, news broke early Friday morning Beijing time that Elon Musk is discussing allocating up to 30% of SpaceX's new shares to individual investors, relying on his fervent fan base to help stabilize the stock price after the IPO. In typical US IPOs, listed companies usually only allocate 5% to 10% of their shares to retail investors without lock-up restrictions. Previous reports indicated that SpaceX's IPO could raise $70-75 billion, targeting a valuation of $1.75 trillion. The previous global IPO record was held by Saudi Aramco's $29 billion IPO in its home market in 2019. Sources say that all parties expect SpaceX's IPO to see very strong retail investment demand, including wealthy family offices that have supported Musk for years, as well as small investors attracted by Musk's technological vision.