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SpaceX plans to file a prospectus for its initial public offering (IPO) with regulators later this week or next week, The Information reported, citing a person with direct knowledge of the plans.

The Elon Musk-led company could raise more than $75 billion from the IPO, the media outlet said.

The individual investor portion might exceed 20%, but the percentage has yet to be finalized, the report added.

According to a Bloomberg report, SpaceX had been expected to raise as much as $50 billion in a record-setting IPO this summer that could value the space exploration company at more than $1.75 trillion.

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