Mirae Asset Pursues Domestic Allocation for SpaceX IPO

Mirae Asset Securities is pursuing a plan to allocate shares of global space company SpaceX's initial public offering (IPO) to domestic investors. The securities firm is one of about 20 global investment banks (IBs) participating in the SpaceX IPO. Financial authorities have initiated legal reviews to pave the way for investors to purchase shares simultaneously in both Korea and the US.

Mirae Asset Securities has stated that if the public offering process proves difficult, it may consider allocating the shares solely to institutional investors or private equity funds. However, potential challenges in absorbing the volume could pose a variable.

Under current laws, there is no precedent for allocating overseas IPO shares through a public offering method in Korea, and US and Korean IPO regulations differ. As it takes at least 15 business days for a securities registration statement to become effective, schedule, legal, and procedural reviews are required.