BlackRock seeks to buy at least $5 billion in SpaceX IPO shares: Report

Asset manager BlackRock sought to buy at least $5 billion worth of shares in the initial public offering of Elon Musk‘s SpaceX , the Wall Street Journal reported on ‌Thursday, ⁠citing people ⁠familiar with the matter.

SpaceX is expected to raise about $75 billion in what would be the world’s largest IPO on record at about a $1.8 trillion valuation.

The order book closed on Wednesday ⁠and bankers ‌are determining share allocations ahead of a planned Nasdaq listing on ⁠Friday, the WSJ said.

Reuters had previously reported that SpaceX was considering allocating as much as 30% of the offering to individual investors.

Musk has rewritten the IPO playbook for SpaceX in many other ways, ‌from planning to give retail investors a larger role in allocations to pushing for ⁠early index inclusion and structuring governance to preserve strong founder control.

SpaceX did not immediately respond to a request for comment, while BlackRock declined to comment. Reuters could not immediately verify the report.