On the 22nd, "SpaceX theme stocks" were strong intraday. Expectations for a listing of the aerospace corporations SpaceX, led by Tesla CEO Elon Musk, appear to have stoked investor sentiment toward aerospace shares.
As of 9:59 a.m. that day on the Korea Exchange, SeAH Besteel Holdings was trading at 50,700 won, up 6,750 won (15.36%) from the previous session. At the same time on the KOSDAQ market, Spear was at 13,820 won, up 860 won (6.64%), and HVM was at 52,000 won, up 9,300 won (21.78%).
SpaceX said it plans to go public in the second half of next year at a valuation of up to $1.5 trillion (about 2,220 trillion won) and raise more than $30 billion (about 44.4 trillion won).
SeAH Besteel Holdings is said to be pushing to supply special alloys to SpaceX through its subsidiary SeAH Changwon Integrated Special Steel. It is also building a plant for aerospace- and defense-grade special alloys in Texas. Spear and HVM supply special metals to SpaceX.
Mirae Asset Venture Investment, which has invested in SpaceX, was also trading on the KOSDAQ market at 19,760 won, up 2,680 won (15.69%) from the previous session. It surged 92% over the past four trading days, hitting a new 52-week high.
Mirae Asset Group, including affiliates such as Mirae Asset Securities and Mirae Asset Venture Investment, has invested a total of $278 million (about 411 billion won) since 2022. The market expects they could reap five to six times their investment after the listing.