Watchdog launches probe into SpaceX IPO allocation debacle

The fallout from the SpaceX “zero shares” fiasco has prompted authorities to investigate Mirae Asset Securities and several other investment management firms, after a Korean allocation of 2.31 million shares was withdrawn without explanation just hours before the Elon Musk-led company’s blockbuster initial public offering (IPO). Financial Supervisory Service (FSS) Gov. Lee Chan-jin said Monday that authorities are reviewing both the circumstances surrounding the disputed allocation process and possible safeguards to prevent a similar episode when future high-profile listings such as OpenAI or Anthropic come to market. The remarks come as the watchdog sifts through a growing number of investor complaints linked to the offering. Ahead of SpaceX’s June 11 IPO, Mirae Asset Securities marketed $500 million worth of stock to local investors. Regulatory filings it had published before subscriptions opening showed that the brokerage had secured an allocation of over 2.31 million shares, giving investors a rare chance to participate in the offering at the $135 issue price. But just five hWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times