SpaceX is weighing a dual-class share structure in its planned initial public offering this year, Bloomberg reported Friday, citing people familiar with the matter.
A two-tier structure would give select shareholders stock with enhanced voting power, allowing insiders such as founder Elon Musk, also the CEO of Tesla (TSLA), to retain control even with a minority stake, the report said.
SpaceX didn't immediately reply to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 422.14, Change: +5.07, Percent Change: +1.22