00:00It's Benzinga bringing Wall Street to Main Street.
00:02Elon Musk is considering allocating up to 30% of SpaceX's IPO to individual investors to rely on
00:08loyal backers to stabilize the stock after its debut, according to Reuters. Companies typically
00:14allocate 5% to 10% of IPO shares to retail investors. The IPO structure departs from
00:20standard Wall Street practices and reflects Musk's effort to control ownership and trading
00:24of SpaceX shares after listing. SpaceX CFO Brett Johnson relayed the plan to Wall Street,
00:30pairing the larger retail share with a targeted banker selection process based on relationships
00:35and defined roles. Bank of America is expected to focus on U.S. high net worth and retail distribution,
00:41while other banks are assigned... For all things money, visit Benzinga.com.
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