SpaceX IPO Is Said to Allocate $600 Million to European Retail

European retail investors bought less than 1% of SpaceX’s record initial public offering, a sliver of the biggest first-time share sale in history.

The Elon Musk-led company allocated about $600 million worth of shares to mom-and-pops investors in the European Union, Norway and Switzerland, according to people familiar with the matter.

Overall, there were orders for about four times as many shares than were allocated to the cohort, translating into just short of $2.5 billion of demand, the people said, who asked not to be identified discussing private information. SpaceX did not immediately respond to a request ...