(Bloomberg) — SpaceX is planning to offer shares ​at $135 apiece to raise $75 ​billion in its ⁠initial public ​offering, according to people familiar with the matter, as Elon Musk rejects another Wall Street convention by setting a fixed price ahead of the marketing phase of the deal.

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The rocket, satellite and artificial intelligence company aims to sell 555.6 million shares in the offering, the people said. Deliberations are ongoing and details of the IPO could still change before the terms are disclosed as soon as Wednesday, or even during the marketing process, they said, asking not to be identified as the information isn’t public.

The move adds to the unconventional aspects of a deal that’s set to be the biggest ever listing. Most companies listing in the US typically announce a price range before marketing shares during investor presentations, with only a handful of tiny firms opting for a fixed price. Such offerings are more common in Europe and Asia. For example, the Hut Group raised $2.5 billion in a London IPO in 2020.

Reuters reported the details of SpaceX’s terms on Tuesday. A representative for SpaceX didn’t respond to a request for comment.

Musk has long disdained the norms that the executives who run giant public companies typically embrace. In 2018 when considering taking Tesla Inc. private, he tweeted “funding secured” at $420 a share. He settled a lawsuit with the US Securities and Exchange Commission over the incident, with Musk and Tesla agreeing to pay investors a combined $40 million without admitting or denying wrongdoing.

The billionaire also said at the time that he was working with Goldman Sachs Group Inc. on the deal. The bank hadn’t been formally tapped in any such capacity, though it later agreed to advise him.

SpaceX’s IPO is among the most closely watched public listings globally. Its rapid march to market after confidentially filing in March — and then publicly last month — comes as investors closely monitor a pipeline of potential offerings from other high-profile technology companies.

The company is targeting a valuation of at least $1.8 trillion in the offering, Bloomberg has reported.

“From a valuation perspective, it’s definitely not cheap,” said Fabien Yip, market analyst at IG International. “Investors are buying into hopes of the company’s exponential growth in the future given it’s not yet profitable.”