Korea Expands Mirae Asset Probe Over Failed SpaceX IPO Share Allocation
Updated
Updated · Bloomberg · Jun 15
Korea Expands Mirae Asset Probe Over Failed SpaceX IPO Share Allocation
3 articles · Updated · Bloomberg · Jun 15
Summary
South Korea’s financial watchdog widened its inspection of Mirae Asset Securities after the brokerage failed to secure a SpaceX IPO share allocation for investors, according to people familiar with the matter.
Mirae Asset had offered access to the blockbuster listing through a private placement aimed at registered accredited investors because retail buyers in South Korea, as in most Asian markets, were shut out.
The expanded probe centers on how the brokerage handled that offering despite serving as one of the IPO’s underwriters, adding regulatory pressure after investors were left without shares.