By Echo Wang

June 2 (Reuters) – SpaceX, Elon Musk’s rocket and satellite company, plans to raise at least $75 ‌billion in its record initial public offering, two ‌people familiar with the matter told Reuters on Tuesday.

After early meetings ​with investors, or a “testing the waters” process, the company has indicated it is targeting a valuation of $1.75 trillion, including a greenshoe option, the sources said, requesting anonymity to discuss ‌confidential information. The greenshoe ⁠option gives underwriters the right to sell additional shares if investor demand exceeds expectations.

Reuters previously ⁠reported that the company was considering a preliminary valuation estimate of around $1.75 trillion at the IPO.

The roadshow for the ​IPO is ​set to begin on ​Thursday, Reuters previously reported. ‌The plans, including the size of the raise, are subject to change as investor meetings get under way, the sources cautioned.

The IPO will give public investors a rare opportunity to buy into Musk’s vision for space, satellite communications ‌and artificial intelligence through SpaceX, which ​has emerged as the crown ​jewel of the world’s ​richest person’s business empire.

SpaceX did not respond ‌to a request for comment.

The ​IPO is expected ​to be structured as an all-primary offering, meaning all proceeds would go to the company rather than ​existing shareholders, the ‌sources said.

(Reporting by Echo Wang in New York, ​additiong reporting by Manya Saini in Bengaluru; Editing ​by Saumyadeb Chakrabarty, Rod Nickel)