The SpaceX Starship V3 is seen docked at on a launch pad at Starbase in Boca Chica Beach, Texas on Thursday. The launch was eventually postponed. (AFP-Yonhap) With Elon Musk’s rocket company SpaceX set to make its record-breaking stock market debut next month, South Korean stocks tied to the firm have rallied sharply on expectations surrounding what could become the world's largest initial public offering.SpaceX on Wednesday disclosed its filing for an IPO with the US Securities and Exchange Commission. Under the schedule, the listing could come as early as June 12.The clearer timeline for the IPO has sent Korean stocks linked to the rocket company into a frenzy.Kospi-listed OCI Holdings gained 12.12 percent to close at 314,500 won Friday, extending its year-to-date gain to 173 percent.The rally has been fueled by growing expectations over the company's ties to SpaceX: The chemical manufacturer's Malaysian subsidiary OCI TerraSus is reportedly seeking to supply solar-grade polysilicon to the US space company."SpaceX's operation is tied to a national strategic industry, meaning the use of Chinese polysilicon is not allowed. OCI Holdings' plan to expand polysilicon production is the clearest sign yet that its collaboration with SpaceX is progressing smoothly," Lee Jin-ho, an analyst at Mirae Asset Securities, said.Shares of Kosdaq-listed venture capital firm Aju IB Investment soared 446 percent year-to-date. The firm has emerged as one of the biggest SpaceX-related plays here after reportedly securing pre-IPO SpaceX shares through its US subsidiary.Over the same period, Mirae Asset Venture Investment surged 349 percent this year. Its parent, Mirae Asset Group, has invested a combined 800 billion won in SpaceX through various funds since 2022, with the venture capital affiliate believed to have taken part in the investment.Shares of Mirae Asset Securities, the group's brokerage unit, also jumped 190 percent year-to-date. The shares closed at 67,500 won Friday, advancing 1.5 percent on-session.The brokerage, a key investor in SpaceX, is expected to book additional valuation gains once the US space firm goes public. It was also named among the joint bookrunners for the IPO alongside global investment banks including Goldman Sachs, Morgan Stanley and Macquarie Capital, according to disclosures made Wednesday.Still, market analysts warned that the rally could lose momentum as the market has already largely priced in the SpaceX IPO and related expectations."SpaceX-linked stocks could peak around the book-building stage, while momentum may begin to fade once the company actually lists," an official at a local asset manager.
Korea's SpaceX-linked shares surge ahead of blockbuster IPO
With Elon Musk’s rocket company SpaceX set to make its record-breaking stock market debut next month, South Korean stocks tied to the firm have rallied sharply














