Investors in South Korea looking to get a piece of SpaceX’s historic initial public offering (IPO) have been met with an unexpected twist, as Mirae Asset Securities, one of the country’s leading brokerages, announced a shift in the trading timeline and offered an unusual chance to withdraw IPO subscriptions. The move comes as SpaceX, the aerospace giant led by Elon Musk, prepares for what is expected to be the largest IPO in global stock market history, aiming to raise a staggering $75 billion and potentially reaching a valuation of $1.75 trillion, according to reporting by Yonhap News Agency.
On June 10, 2026, Mirae Asset Securities distributed a notice to its investors, laying out the new timeline and policy. Investors who participated in the SpaceX IPO subscription—whether as individuals or institutional players—now have the right to withdraw their applications, but only until noon on June 11, 2026. The brokerage explained that this decision was made to ensure investor protection and offer greater flexibility amid heightened volatility expected for SpaceX shares once they hit the market.
Originally, Mirae Asset had planned to credit the allocated SpaceX shares directly to investors’ accounts on the day of the listing, allowing for immediate trading. This approach was designed to shield investors from the wild price swings that often accompany high-profile IPOs, especially one of this magnitude. As stated in Mirae Asset’s guidance, the goal was to make sure that “trading can proceed immediately from the listing day to prevent investor losses due to price fluctuations.”
However, the logistics of cross-border share allocation proved more complicated than anticipated. Mirae Asset clarified that, under current procedures, all shares allocated to South Korean investors must first go through U.S. local deposit processes and then be delivered domestically before they can be credited to individual accounts. This means that even after the SpaceX listing, there will be a waiting period before South Korean investors can actually buy or sell their shares.
“For the SpaceX IPO, trading will only be possible after U.S. local deposit and domestic delivery procedures have been completed,” a Mirae Asset representative told Yonhap News Agency. “As a result, investors who participated in the subscription will not be able to trade their shares for at least two business days after the listing date, with actual trading expected to begin on June 16, 2026, Korean time.”
Faced with this unavoidable delay, Mirae Asset decided to offer a withdrawal right—a move that is rare in South Korea’s IPO scene, especially for such a high-profile international listing. The brokerage explained that this was a proactive measure to protect customers and guarantee their right to choose, given the increased risk of price swings during the initial trading days when investors are unable to act.
“We sincerely apologize for any inconvenience caused to our valued customers,” a Mirae Asset official said in a statement published by Yonhap News Agency. “We want to inform you that, due to the uncertainty regarding the trading timeline, withdrawal of IPO subscriptions is possible.” The official further emphasized, “We will continue to prioritize customer protection and risk disclosure in providing future high-quality investment opportunities.”
The allocation of SpaceX shares to Mirae Asset’s clients is expected to be finalized on June 11, 2026. The brokerage is part of a heavyweight consortium of about 20 global investment banks underwriting the SpaceX IPO, reflecting the immense scale and international interest in the offering.
SpaceX’s IPO is set to make waves not just in the United States, but around the world. The company, founded by Elon Musk, has become synonymous with ambitious space exploration, satellite launches, and the dream of making humanity a multiplanetary species. With its valuation potentially soaring to $1.75 trillion, SpaceX would rank among the world’s most valuable companies, rivaling giants in the technology and energy sectors.
The anticipation around the IPO has led to feverish demand from investors across the globe, with South Korea being no exception. Mirae Asset’s two rounds of IPO subscription drew in both retail and professional investors eager to secure a stake in Musk’s spacefaring vision. But the complexity of international share settlement has thrown a wrench into the process, highlighting the challenges of cross-border investing in a globalized financial market.
According to DongA.com, the initial plan was for investors to receive their allocated shares directly into their accounts on the listing day, making it possible to trade immediately. This would have allowed South Korean investors to respond in real-time to the volatility expected on the first day of trading, which, given the scale of the IPO, could be substantial. However, with the revised timeline, these investors will be sidelined for the first three trading days, unable to buy or sell as the stock price finds its footing on the open market.
The brokerage’s decision to offer withdrawal rights is not just a matter of logistics, but also of ethics and customer care. By allowing investors to reconsider their positions in light of the new trading timeline, Mirae Asset is attempting to balance the risks and rewards of participating in a landmark IPO. In the words of the company, this is “a proactive measure to protect customers and guarantee their right to choose.”
For many investors, the delay may be a minor inconvenience in exchange for a shot at owning a piece of SpaceX. But for others, particularly those wary of unpredictable price swings or who had planned to trade on the listing day, the option to withdraw may offer welcome peace of mind. As one Mirae Asset official noted, “Participants are exposed to the risk of price fluctuations during the period when trading is not possible.”
Looking ahead, Mirae Asset has pledged to continue prioritizing customer protection and market risk disclosure in future offerings, especially as more South Korean investors look abroad for high-profile opportunities. The brokerage’s experience with the SpaceX IPO could serve as a template for handling similar situations in the future, where international settlement procedures and market volatility intersect.
Meanwhile, the financial world will be watching closely as SpaceX’s IPO unfolds. With the allocation of shares to Mirae Asset clients set to be finalized imminently, and trading for South Korean investors slated to begin on June 16, all eyes are on how the stock will perform—and how investors will navigate the first days of this unprecedented market event.
In the ever-evolving world of global finance, sometimes even the most carefully laid plans require a last-minute adjustment. For Mirae Asset and its clients, the SpaceX IPO has become a lesson in both the promise and the complexity of investing on the world stage.