Mirae Asset Securities Offers SpaceX IPO Withdrawal Rights to Investors

Mirae Asset Securities has decided to grant withdrawal rights to professional investors who participated in the initial public offering (IPO) for SpaceX, a venture valued at $500 million. This decision comes in anticipation of potential trading difficulties investors might face immediately following SpaceX's debut on the U.S. stock market, scheduled for the 12th (local time).

The brokerage firm communicated this option to investors on the 10th, stating in an investor notice that "If you wish to withdraw your IPO subscription, you can apply by noon on the 11th." Initially, Mirae Asset Securities had planned to reflect the allocated shares for overseas stock subscriptions directly in individual investor accounts on the day of SpaceX's listing, enabling immediate trading. This was due to the expectation of significant stock price volatility on the listing day, given that this IPO is poised to be the largest in global stock market history.

However, additional time is required for the SpaceX IPO shares received by investors to undergo the depositary process in the U.S. market and then be physically received in Korea. According to Mirae Asset Securities, investors will be able to directly trade the shares starting from the 16th (Korean time). The company has opted to provide withdrawal rights because investors will be unable to trade their subscribed shares for three business days after SpaceX's listing.

Mirae Asset Securities is the sole domestic securities firm participating in the SpaceX IPO underwriting team. The exact volume of SpaceX shares allocated to Mirae Asset Securities is expected to be confirmed on the 11th.