JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon will reportedly pitch SpaceX‘s upcoming initial public offering to thousands of the bank’s wealthy clients at a special event in New York on Thursday.
Dimon will be joined by JPMorgan executives Mary Erdoes and Marianne Lake, while SpaceX Chief Operating Officer Gwynne Shotwell and Chief Financial Officer Bret Johnsen are also expected to attend, Bloomberg reported, citing reviewed invitations. More than 2,500 clients are expected to participate, either in person or via broadcasts across roughly 90 locations in 26 states, according to the report.
JPMorgan did not immediately respond to Benzinga‘s request for comment.
Retail Push For Historic Listing
The event underscores Wall Street’s effort to broaden participation in what is shaping up to be the largest IPO in history.
SpaceX on Wednesday priced its IPO at $135 per share, seeking to raise $75 billion and valuing the Elon Musk-led rocket and satellite company at approximately $1.75 trillion. The valuation would immediately place SpaceX among the 10 most valuable publicly traded U.S. companies.
Unusual Roadshow Strategy
While banks routinely host investor roadshows before IPOs, a large-scale event focused on attracting wealthy individual investors is uncommon. JPMorgan is among a syndicate of banks working on the offering, while international lenders including UBS, Deutsche Bank, Barclays and Mizuho have reportedly been encouraged to help line up affluent buyers in their home markets.
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