(Reuters) -Elon Musk's SpaceX has initiated discussions about selling existing shares in a deal that could value the company at roughly $200 billion, Bloomberg News reported on Thursday, citing people familiar with the matter.

The valuation would be higher than the $180 billion it had fetched in its previous tender offer, the report said, adding that the shares could be sold at a price ranging from $108 to $110.

SpaceX did not immediately respond to a Reuters request for comment. One of the most profitable startups in the world, it is employing a tactic common among high-profile private companies.

Tender offers allow insiders or employees to sell their shares without the company having to file for an initial public offering.

They can allow the company to strengthen its financials further before it decides to test its fate in the public markets.

(Reporting by Niket Nishant in Bengaluru; Editing by Arun Koyyur)