Elon Musk’s SpaceX is targeting millions of Australian investors for its blockbuster initial public offering and it is doing it through CommSec.
Commonwealth Bank’s online brokerage has told customers it will offer SpaceX stock from Tuesday, prompting clients to open international share accounts to join the deal.
People briefed on the float say SpaceX plans to lodge a prospectus with the local corporate regulator on June 4.
The company, which owns Starlink and recently merged with xAI, is expected to raise up to $1 billion from Australian retail investors as part of a broader $US75 billion global raising and the Nasdaq-only listing could value the group at about $US2 trillion.
CommSec’s involvement means Australian retail investors can join a US mega float that normally would be the preserve of global institutions and specialist brokers.
SpaceX’s offer is structured as a single international IPO, raising capital from institutions and retail investors worldwide without creating a separate Australian Securities Exchange listing.
The business combines rockets, satellite internet via Starlink and artificial intelligence operations from the xAI merger, appealing to investors chasing exposure to several high-growth technologies in one stock.
CommSec, as the country’s largest online share trading platform, is positioned as the lead Australian retail broker funnelling local demand into the Nasdaq bookbuild.
Investment banks and wealth managers are also circling the offer.
Macquarie Capital is one of 23 underwriters for the IPO and is expected to target large superannuation funds and private wealth clients seeking access to the high-profile float.
Everyday investors can buy in alongside global institutions, turning the SpaceX deal into a test of how much retail appetite exists for complex, capital-intensive tech ventures.
The company’s heavy spending on rockets, satellites and AI infrastructure, plus its founder’s highly unconventional operating style, may unsettle some professional investors, leaving room for retail money to play a bigger role than usual.
SpaceX’s decision to sell IPO shares directly into Australia, as well as parts of Canada, Europe, Japan, Switzerland and Britain, is a turning point for cross-border retail capital raising.
The strategy shows how large private technology groups can tap deep offshore investor pools without the cost and regulatory complexity of multiple local listings, adding further pressure to the Australian Securities Exchange at a time of thin domestic IPO pipelines.
Equity market specialists say this model accelerates the globalisation of stock offerings, where national exchanges risk becoming less central for marquee listings.
For Australia, the deal underlines both the strength of its superannuation-backed capital base and the shift in power towards international platforms such as Nasdaq.
