Elon Musk’s rocket company is preparing to file for a public listing that would smash the global record for a share offering

SpaceX (Unlisted (US):SPACEX), the rocket and spacecraft company founded by Elon Musk, is preparing to launch a stock market flotation that could raise as much as $75 billion, according to a report by The Information, a technology news publication.

The company is expected to file its IPO prospectus with US securities regulators this week or next, with the public offering itself targeted for June.

The sum would far exceed the largest initial public offering on record, set by Saudi Aramco, the state-owned Saudi oil company, which raised $25.6 billion in 2019.

The scale of the deal has surprised analysts, who had previously anticipated SpaceX would seek to raise between $30 billion and $50 billion, given strong investor appetite for technology stocks.

SpaceX was valued at $1.25 trillion in February, following its merger with xAI, Musk’s artificial intelligence company.

The company dominates the commercial space launch market through its fleet of reusable rockets and is also developing spacecraft intended for missions to Mars.

Shareholders include Musk alongside investment funds and Alphabet, the parent company of Google.