SpaceX has confirmed that it aims to raise between $75bn and $85.7bn through what would be the largest initial public offering in history, valuing the space technology company at around $1.8trn.

According to its latest filing, the company intends to offer 555.6 million shares at $135 each, representing around 4.2% of the total share capital. Underwriters have the option to sell additional shares, which could increase total proceeds to $85.7bn.

Following the IPO, owner and CEO Elon Musk is expected to control more than 80% (82.4%) of the company’s voting power, cementing his continued dominance of the business and influence over strategic decisions.

Proceeds from the flotation are expected to fund the expansion of artificial intelligence computing infrastructure, launch operations and the growth of the Starlink satellite network, while also helping to repay part of a $20bn bridge loan.

The planned listing would comfortably surpass the previous IPO record set by Saudi Aramco and place SpaceX among the world’s most valuable listed companies. Starlink, the group's fastest-growing business, generated $11.4bn in revenue last year and is seen as a key driver of investor interest.

SpaceX is expected to complete the offering later this month or in early July, although the timing and final pricing remain subject to market conditions and investor demand.

Apart from the sky-high figures, what makes the deal unusual is that UK retail investors will be able to participate in the IPO allocation before trading begins. Access to major US technology listings is typically restricted to institutional investors, leaving retail buyers to purchase shares only after they start trading on the public market.

Several UK-regulated investment platforms, including PrimaryBid, Hargreaves Lansdown, Freetrade and Interactive Investor, are expected to offer access to the share sale, although allocations are likely to be limited due to strong demand.

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