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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Shares of listed Mirae Asset Group companies showed mixed performance despite optimism surrounding a potential SpaceX initial public offering (IPO). While Mirae Asset Venture Investment plunged after days of sharp gains, Mirae Asset Securities continued its upward momentum as the company viewed as the primary beneficiary.
On December 23, Mirae Asset Venture Investment closed at KRW 15,550, down the daily limit of KRW 6,650. The stock had surged more than 100% over three sessions, reaching KRW 22,200, after hitting upper limits on December 18 and 22 and rising 19.9% on December 19. The sharp reversal erased a significant portion of its recent gains.
In contrast, Mirae Asset Securities rose 3.9% to KRW 23,900, extending its winning streak to four consecutive sessions since December 18, with a cumulative gain of 16.9%.
The divergence is widely attributed to a brokerage report released the same day. Hana Securities estimated Mirae Asset Group’s total investment in SpaceX at approximately KRW 400 billion, with about KRW 200 billion contributed by Mirae Asset Securities, accounting for more than half of the group’s exposure. Mirae Asset Venture Investment’s stake was estimated at only KRW 4 billion.
Hana Securities analyst Ko Yeon-soo said that, given the actual investment structure and scale, the primary beneficiary of a SpaceX IPO would be Mirae Asset Securities rather than Mirae Asset Venture Investment, with potential valuation gains mainly reflected in Mirae Asset Securities’ earnings.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
