According to Bloomberg, SpaceX is reportedly in negotiations to take its rapidly growing Starlink satellite company public for the first time towards the end of 2024.

A source, who wished to remain anonymous due to the sensitive nature of the discussions, stated that preparations are underway to move the assets of SpaceX’s satellite unit to a wholly owned subsidiary that will eventually be publicly listed.

However, a final decision has not been made and it is also possible for SpaceX to retain ownership of this unit. The sources also mentioned that the listing could be postponed until 2025.

A representative for Space Exploration Technologies Corp., the official name of SpaceX, did not respond to a request for comment.

SpaceX’s founder and CEO, Elon Musk, has been suggesting the possibility of a public offering for Starlink for years, but the timing of the offering has been uncertain.

Last year, Musk also mentioned to employees that the IPO could take years to materialize, but this prospect has gained momentum in recent times.

According to Bloomberg News’ report on November 6, SpaceX expects Starlink to generate approximately $10 billion in total sales next year, overshadowing its rocket launch business and accounting for two-thirds of the total.