National Business Wire (Dec 7) -- Elon Musk's space exploration company SpaceX has begun discussions to sell insider shares, according to Bloomberg.

At the price of the offering, the company could reach a valuation of at least $175 billion, up from the $150 billion valuation it received when it sold insider shares this summer, the report said, citing people familiar with the matter.

SpaceX is discussing a tender offer of between $500 million and $750 million, the sources said, and is considering selling shares at a price of around $95 per share.

However, the size of the offering could change depending on interest from both insider sellers and buyers.