Photo courtesy of Yonhap News

 

 

[Alpha Biz= Paul Lee] SEOUL, June 5 — Mirae Asset Securities is expected to open subscriptions for the SpaceX initial public offering (IPO) to professional investors starting June 5.

According to industry sources, the offering will be available from June 5 to 8 for qualified individual and institutional investors, with a targeted fundraising amount of around $500 million.

Minimum participation is set at $100,000, with a maximum of $3 million per investor. Final share allocations are expected to be determined around June 12, when SpaceX is scheduled to list on the Nasdaq.

The offering will not be open to retail investors due to regulatory constraints, as South Korea lacks a precedent for general public participation in overseas IPO subscriptions.

Founded by Elon Musk, SpaceX aims to raise up to $75 billion in what could be one of the largest IPOs ever, with an estimated valuation of $1.75 trillion.

Separately, Korea Investment Management said it will participate in the IPO, marking the first such move by a domestic asset manager, with shares to be allocated to its space and defense-themed funds.

 

 

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