The initial public offering (IPO) of Elon Musk‘s SpaceX has reportedly seen an overwhelming response from investors, ahead of its debut on June 12.

The company’s IPO has attracted over $250 billion in investor demand, significantly higher than the $75 billion it aimed to raise. This implies the offering was oversubscribed by roughly 3.5 to 4 times its planned size, Reuters reported on Tuesday.

Long-only funds have reportedly placed sizable orders, and investor interest remains strong, as per the report. SpaceX is still in the middle of its marketing process, with company President Gwynne Shotwell and finance chief Bret Johnsen scheduled to meet with about 300 institutional investors at a Morgan Stanley-hosted lunch meeting in midtown Manhattan on Tuesday, as per the report.

The final subscription figures have not yet been determined, as they are based on indications of interest rather than confirmed allocations. The report added that some large institutional investors typically place their orders toward the end of the IPO process.

The company is expected to raise roughly $75 billion at a valuation of about $1.75 trillion, making it one of the biggest ...