Mirae Asset Securities apologizes to investors who participated in a pre-subscription for SpaceX shares and says it is considering monetary compensation following the failure to receive an allocation. According to a Korea Times report, senior executives including vice chairman Kim Mi-seob and vice chairman Heo Sun-ho send messages to domestic clients explaining that the firm processed the subscription after confirming it met applicable legal qualifications and requirements for offering IPO shares to local clients. The brokerage says it made efforts to secure an allocation until the end, but that the final decision rests with the lead U.S. underwriter, and no shares were ultimately allocated.
The report also notes Mirae Asset Securities is listed as an underwriter in SpaceX’s U.S. Securities and Exchange Commission Form S-1 filing and participated as a global co-underwriter. SpaceX begins trading on the U.S. stock market on Friday, but the allocation outcome for pre-subscribing domestic investors does not materialize. Mirae Asset Securities’ apology is presented as a response to the “disappointing outcome” for customers, while the company reviews whether compensation is appropriate.
