Elon Musk’s SpaceX ‘preparing for flotation that could value it at over $1tn’

Reports say space exploration company has begun talks about stock market listing that could raise more than $25bn

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Elon Musk's space exploration company SpaceX is preparing to list on the stock market next year in a move that could raise more than $25bn (19bn) and value the business at more than $1tn, according to reports.

SpaceX, which designs, builds and launches rockets, is said to have started discussions with banks about an initial public offering (IPO). It could join the stock market in about June or July, according Reuters, which cited an unnamed source familiar with the matter.