Mirae Asset Securities, which joined the underwriting syndicate for SpaceX's initial public offering, is found to have secured an allocation of IPO shares worth about 4,751 billion won.
A SpaceX filing with the U.S. Securities and Exchange Commission (SEC) on June 12 shows that 2,314,815 shares were allocated to Mirae Asset Securities out of 555,555,555 Class A common shares being sold in the IPO.
The offer price is $135 per share. Based on the number of shares allocated to Mirae Asset Securities, the allocation amount is about $312.5 million. Converted into won, it is worth about 4,751 billion won.
Lead underwriters Goldman Sachs and Morgan Stanley were each allocated 111,111,111 shares. Bank of America, JPMorgan and Citigroup were each allocated 83,333,333 shares.
Barclays, Deutsche Bank, UBS and Wells Fargo were each allocated 11,111,111 shares. The remaining global investment banks in the syndicate, including Macquarie Capital, Mizuho Securities and Santander, secured the same 2,314,815 shares each as Mirae Asset Securities.
Mirae Asset Securities has drawn attention as a domestic securities firm that joined the SpaceX IPO syndicate. It previously took subscriptions for SpaceX IPO shares from professional individual and corporate investors and from institutional investors, and investor demand also kept attention on the allocation size and refund schedule.
SpaceX plans to raise $75 billion through the IPO. At the offer price, the company's valuation is assessed at about $1.77 trillion.
By securing this allocation, Mirae Asset Securities is set to strengthen its presence in brokerage of investments in large overseas IPOs for domestic investors and in its global investment bank network. The actual allocation size for each domestic investor and the timing of share delivery are expected to be finalised through separate procedures.