With it confirmed that the domestic underwriting group had no allocation of shares in the SpaceX listing process, Korea Investment Management also received not a single SpaceX IPO share. Still, the firm added SpaceX to a related exchange-traded fund through on-exchange trading on the first day of listing.

Korea Investment Management said on June 13 it made a final confirmation that it had received no allocation from participation in the SpaceX initial public offering.

The firm had initially planned to receive the final allocation from lead manager Mirae Asset Securities on the previous morning and notify investors. But the announcement schedule was delayed at the request of the lead manager.

It was later notified that, in the final allocation process overseas early on June 13, the global lead underwriter did not allocate any saleable shares to the domestic underwriting group.

As a result, Korea Investment Management was unable to proceed with its plan to add SpaceX IPO shares. The company had previously said it would include the shares allocated through participation in the SpaceX IPO in products such as the ACE US Space Tech Active ETF.

Still, as an alternative, Korea Investment Management completed the inclusion of SpaceX in the ACE US Space Tech Active ETF through on-exchange trading on the first day of listing. It did not receive an IPO allocation but reflected the planned weighting through market purchases after listing.

The lack of allocation is seen as the result of a reallocation in the final process as demand for the SpaceX IPO rose. In the U.S. IPO market, the amount allocated for underwriting participation in disclosures and the final allocation actually saleable to investors can differ.

A Korea Investment Management official said, "This is a result caused by the specificity and variability of the U.S. IPO market, but as investor expectations for adding SpaceX IPO shares were high, we are very sorry to deliver the news of no allocation."

The official added, "In providing overseas investment information in the future, we will give clearer notice of variability and manage the fund with a more sophisticated and responsible approach."