Amid a sharp decline in the domestic stock market that has dampened investor sentiment, there is a strong interest in investing in the American aerospace company SpaceX. Mirae Asset Securities reported that its second round of SpaceX IPO subscriptions closed in less than two minutes after opening, with significant funds also flowing into related exchange-traded funds (ETFs).
According to the financial investment industry on June 8, Mirae Asset Securities began the second round of SpaceX IPO subscriptions at 8:30 a.m. and sold out the available shares in under two minutes.
This final subscription round targeted individual and institutional professional investors, with a planned fundraising amount of $500 million. The minimum investment was set at $100,000, while the maximum was $3 million. The first round of subscriptions held on June 5 also saw $300 million worth of shares sell out in about a minute.
The final allocation of shares to investors is expected to be confirmed around June 12, when SpaceX is scheduled to go public on NASDAQ. Refunds for any unallocated amounts will also be processed at that time.
SpaceX, led by Elon Musk, is the world's largest private aerospace company and plans to raise approximately $75 billion through this IPO. Market analysts predict that the company's valuation could reach $1.75 trillion after its listing, placing it among the highest echelons of global publicly traded companies.
Mirae Asset Group is participating in the underwriting syndicate for the SpaceX IPO alongside over 20 global investment banks, with the final allocation for Mirae Asset expected to be confirmed on June 11.
The enthusiasm for investing in SpaceX extends beyond the IPO market. According to Korea Investment Trust Management, individual net purchases of the 'ACE U.S. Space Tech Active ETF' reached 61.2 billion won in the past month as of June 5. This fund is structured around companies involved in new space (private space development). The influx of funds is attributed to the recent announcement by Korea Investment Trust Management regarding its participation in the SpaceX IPO, drawing in investors who find direct subscription challenging.
Korea Investment Trust Management plans to incorporate the SpaceX shares allocated through the IPO into the ACE U.S. Space Tech Active ETF and the Korea Investment Global Space Technology & Defense Fund.
Despite recent volatility in global markets and significant corrections in the domestic stock market, the securities industry reports that demand for investments in future growth sectors such as AI and the space industry remains robust.
Nam Yong-soo, head of the ETF division at Korea Investment Trust Management, stated, "Through the ACE U.S. Space Tech Active ETF, which leverages the strengths of active management, investors can indirectly participate in the SpaceX IPO. There is a clear distinction between participating in the IPO and holding SpaceX shares after the listing."
* This article has been translated by AI.
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