Mirae Asset Securities, South Korea’s largest brokerage, is pushing back hard against a Bloomberg News report that portrayed the firm as bungling its role in SpaceX’s initial public offering. The firm says it did everything right, coordinated with lead underwriters, and has the receipts to prove it.
What actually happened
According to Mirae, the firm submitted binding orders totaling $1.14 billion between June 5 and June 10, following the instructions provided by lead underwriters. The brokerage says it received confirmation that those orders were properly logged.
Then came the Bloomberg report on June 30, which claimed Mirae received zero allocation due to a “misunderstanding” regarding order submissions. Mirae has labeled the Bloomberg report as “malicious” and “defamatory,” and is now considering legal action against the outlet.
The fallout is already significant
