SpaceX Discusses Dividing Up Bank Roles in Echo of Alibaba’s Lineup

When companies typically go public, they appoint one or two investment banks to oversee everything—from valuing the company to lining up investors. That’s not how Elon Musk plans to handle the upcoming SpaceX giant’s initial public offering.

The rocket and AI firm has discussed dividing up roles among a larger group of investment banks, according to people familiar with the discussions. Executives have told people involved in the deal they’ve considered having Morgan Stanley and Goldman Sachs focusing on allocating shares to institutional investors, while Bank of America and Citi oversee selling shares to individual investors. SpaceX has also lined up JPMorgan Chase to advise it on the IPO, the people said.