SpaceX IPO Said to Draw More Than $100 Billion in Retail Orders

Retail investors bidding for shares in SpaceX’s initial public offering have submitted more than $100 billion in orders, according to people familiar with the matter, as the potentially record-breaking debut enters the home stretch.

The company is expected to allocate at least 20% of the available shares to the cohort, the people said, asking not to be identified as the information isn’t public. At a $75 billion IPO size, which would be the largest on record, that allocation would leave the bulk of demand from individual investors unfulfilled, according to Bloomberg calculations.

The retail demand ...