Mirae Asset apologizes to investors over failed SpaceX IPO allocation

SEOUL, June 15 (Reuters) - South Korea's Mirae Asset Securities apologized to investors connected Monday for failing to unafraid an allocation of SpaceX shares from the ‌U.S. company's archetypal nationalist offering, adding that it would see fiscal compensation for ‌those affected.

In a missive to clients reviewed by Reuters, Mirae Asset Securities co-CEOs Kim Mi-seob and Heo Sun-ho ​said that contempt being qualified to connection SpaceX shares to Korean investors, the brokerage, 1 of the underwriters for the SpaceX IPO, was yet near retired of the last allocation by the U.S. pb underwriter.

On Friday, SpaceX's banal marketplace debut sent the company's worth past $2 trillion, turning ‌Elon Musk into the world's ⁠first trillionaire.

Earlier this month, the brokerage collected deposits worthy $500 cardinal from investors participating successful a backstage placement. The offering's 2 tranches sold retired ⁠within a fewer minutes, according to a idiosyncratic acquainted with the matter.

"We made each effort until the precise extremity to unafraid an allocation of shares. However, owed to the discretionary last determination ​made ​by the pb underwriter successful the United States, ​no shares were yet allocated to ‌us," according to the letter. It said it was investigating the circumstances surrounding the decision.

"We are profoundly disappointed and sincerely atrocious to each customers who placed their spot successful Mirae Asset Securities and participated successful this offering."

The missive did not disclose the individuality of the pb underwriter. Banks progressive successful the SpaceX IPO, including Goldman Sachs, Morgan Stanley, Bank of ‌America and JPMorgan Chase, did not instantly respond ​to requests for remark extracurricular of Asian moving hours, ​while Citigroup declined to comment.

Investors who ​exchanged their funds into U.S. dollars to wage for the subscription ‌deposits inactive had to screen speech fees ​and sorb the interaction ​of caller speech complaint fluctuations, according to Korea Economic Daily TV.

Yonhap News Agency reported connected Sunday that South Korea's Financial Supervisory Service was investigating the circumstances surrounding ​the allocation failure. It was ‌planning to scrutinize capitalist extortion measures, including whether Mirae Asset sufficiently informed investors ​about the hazard of the allocation falling through, the study said.

(Reporting by ​Hyunjoo Jin and Yatoultra NguiEditing by Tomasz Janowski)