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Photo = Mirae Asset Securities |
[Alpha Biz= Paul Lee] Mirae Asset Securities, which participated as a member of the underwriting syndicate for the SpaceX initial public offering (IPO), failed to secure a single share in the final allocation, resulting in a full refund of subscription deposits to investors.
According to the financial investment industry on June 14, Mirae Asset Securities had initially been expected to receive 2,314,815 Class A common shares out of a total of 555,555,555 shares offered in the IPO.
However, during the final allocation process, lead underwriter Goldman Sachs did not distribute any shares to certain syndicate members, including Mirae Asset Securities. The decision appears to have been driven by overwhelming post-listing demand from global institutional investors, prompting a rapid reallocation of shares in their favor.
Prior to the final allocation, Mirae Asset Securities conducted two rounds of large-scale subscription offerings through June 10, targeting domestic retail investors, professional investors, and institutional clients. The offering, which aimed to raise approximately $500 million, drew strong demand, with all available allotments being fully subscribed within minutes of launch.
With no shares ultimately allocated, the firm refunded all subscription deposits paid by clients in the early hours of June 13.
Asset managers such as Mirae Asset Global Investments and Korea Investment Trust Management had planned to incorporate the IPO shares into major exchange-traded funds (ETFs), but these plans were disrupted due to the lack of final allocation.
The Financial Supervisory Service has begun reviewing the circumstances surrounding the case, amid concerns that it could lead to legal disputes or investor complaints.
SpaceX raised approximately $75 billion through the IPO, marking one of the largest capital-raising events in global equity market history.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
