Mirae Asset Gets 0 Shares Despite 2.31 Million Bid as Global Banks Dominate Allocation
Updated
Updated · 매일경제 · Jun 15
Mirae Asset Gets 0 Shares Despite 2.31 Million Bid as Global Banks Dominate Allocation
2 articles · Updated · 매일경제 · Jun 15
Summary
Mirae Asset Securities ended with zero shares in the final allocation after seeking to take 2,314,815 shares, despite what the report described as an all-out effort by the Korean brokerage.
Demand from larger global players overwhelmed it: Japan's Mizuho Securities reportedly applied for about 1 trillion yen, far above Mirae's roughly 760 billion won subscription scale, yet even Mizuho received only 34% of what it sought.
The report argues global investment banks including Goldman Sachs went beyond a routine cut for oversubscription by unilaterally stripping allocations discussed in the formal coordination process, raising fairness and commercial-morality concerns.
That outcome is framed as a warning for Korean firms on cross-border deals: without stronger proprietary content and real bargaining power, similar zero-allocation episodes could recur in future marquee offerings such as SpaceX.