"Mirae Asset Securities to Begin SpaceX IPO Subscription Tomorrow"

IPO Subscriptions Open for Two Days on June 5 and June 8

Mirae Asset Securities is expected to open subscriptions for SpaceX IPO shares to both individual and corporate professional investors starting June 5.

According to the financial investment industry on June 4, Mirae Asset Securities plans to conduct subscriptions for SpaceX IPO shares over two business days, on June 5 and June 8.

The offerings are targeted at individuals and corporations registered as professional investors, with the total expected offering amount estimated to be around $500 million.

The minimum investment amount is reported to be $100,000 and the maximum is $3 million. However, the number of shares allocated to each investor is expected to be finalized around June 12, when SpaceX is officially listed on Nasdaq.

Initially, there were hopes for a public offering to retail investors in Korea, but this appears to have fallen through. Under current regulations, there is no precedent for allocating overseas IPO shares to Korean retail investors via a general public offering.

Additionally, offering IPO subscriptions to retail investors would require submitting a securities registration statement to the financial authorities and going through the subscription process, which is considered burdensome.

SpaceX, the aerospace company led by Elon Musk, is launching a roadshow for investors starting today. Through this IPO, SpaceX plans to raise $75 billion (approximately KRW 115 trillion), the largest amount ever. If the listing succeeds, the company's valuation is expected to reach $1.75 trillion (approximately KRW 2,700 trillion).

Although the specific allocation has not been finalized, industry sources have projected that Mirae Asset Group, which is participating as part of the underwriting syndicate along with around 20 global investment banks, will be allocated approximately $5 billion (about KRW 7.6 trillion) worth of SpaceX IPO shares.

Meanwhile, Korea Investment Management (KIM) announced on this day that it would participate in the SpaceX IPO. Among domestic asset management firms, KIM is the first to announce direct participation in the SpaceX IPO.

KIM plans to allocate the shares it receives through the SpaceX IPO to its 'ACE US Space Tech Active ETF' and the Korea Investment Global Space Technology & Defense Fund.

This content was produced with the assistance of AI translation services.