Market Chatter: Mirae Asset Disputes Bloomberg Report on SpaceX IPO Order Process

MT Newswires Live07-02 17:24

Mirae Asset Securities followed all required procedures for the SpaceX (SPCX) initial public offering and coordinated with the deal's lead underwriters, disputing an earlier report that questioned its handling of the process, Bloomberg News reported Thursday, citing an email from the company.

The South Korean brokerage told the news outlet it submitted $1.14 billion in investor orders on June 10 in line with a lead underwriter's instructions and received confirmation that the orders were accepted.

A June 30 Bloomberg report, citing people familiar with the situation, said Mirae received no stock allocation after a misunderstanding over ordering procedures.

Mirae also rejected the claim that it mistakenly treated an early indication of interest as a binding order, according to the latest report.

The brokerage did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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