Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Mirae Asset Securities - To Sell $1 Billion of SpaceX IPO Shares [Buy the Rumor, Sell the News]

Shinyoung Securities: Cancellation of 32% of Outstanding Shares, Representing 1 Trillion Won

Alpha Generation Through Share Buybacks in Korea: Bi-Monthly (May & June 2026)

Korea Small Cap Gem #50: Seah Besteel Holdings - A Potential Beneficiary of SpaceX IPO

Mirae Asset Group - The Biggest Korean Investor in SpaceX

Top 12 Korean Companies - Key Beneficiaries of the SpaceX IPO in 2026

Douglas Research Advisory

Equity Bottom-Up

Mirae Asset Securities / Equity Bottom-Up

<ul>
<li>Elon Musk is seeking an IPO of SpaceX this summer. The valuation that Musk and other major shareholders of SpaceX is seeking has risen from US$1.5 trillion to US$1.75 trillion.</li>
<li>Right now, the Mirae Asset Securities ordinary/preferred shares ratio is more than 2 standard deviations. This ratio is nearly at its highest ratio in the past five years. </li>
<li>We believe this GAP is excessive. The higher probability scenario is for this gap to narrow in the next 3-9 months. </li>
</ul>


Elon Musk is seeking an IPO of SpaceX this summer. The valuation that Musk and other major shareholders of SpaceX is seeking has risen from US$1.5 trillion to US$1.75 trillion.
Right now, the Mirae Asset Securities ordinary/preferred shares ratio is more than 2 standard deviations. This ratio is nearly at its highest ratio in the past five years. 
We believe this GAP is excessive. The higher probability scenario is for this gap to narrow in the next 3-9 months. 


Mirae Asset Venture Investment (100790 KS)

Higher Valuation for SpaceX IPO and Mirae Asset Securities Ordinary Vs Preferred Shares Gap to Close