Mirae Asset Securites (KRX:006800) issued an apology to its investors following SpaceX's record $75 billion Nasdaq debut last week, Reuters reported Monday, citing a letter to clients.
Earlier in June, Mirae Asset had raised $500 million via a private placement, which was expected to be used to allocate SpaceX IPO shares for its investors, Reuters reported, citing a source familiar with the matter.
However, the U.S. lead underwriter left out Mirae Asset from the final allocation, the report said.
Mirae Asset Securities co-CEOs Kim Mi-seob and Heo Sun-ho explained in a letter to clients that "no shares were ultimately allocated to us" by the lead underwriter.
Subsequently, on Monday, South Korea's Financial Supervisory Service widened its investigation into Mirae Asset's failure to allocate SpaceX shares to investors, Bloomberg reported.
The financial watchdog had begun probing the brokerage last week to determine whether investors who subscribed to SpaceX shares met eligibility requirements, Bloomberg said, citing sources familiar with the matter.
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