Mirae Asset Group stocks, which had surged on news of an investment in space and aerospace corporations SpaceX led by Tesla CEO Elon Musk, were falling together early on the 24th.
As of 9:54 a.m. that day, Mirae Asset Securities preferred was trading at 12,630 won, down 2,630 won (17.23%) from the previous session on the Korea Exchange. At the same time, Mirae Asset Securities was down 650 won (2.72%) at 23,250 won, and Mirae Asset Venture Investment was down 1,310 won (8.42%) at 14,240 won.
Earlier, in the market, the fact that Mirae Asset Group invested in SpaceX was spotlighted, lifting share prices. Mirae Asset Group invested $278 million (about 400 billion won) in SpaceX in two rounds in 2022. Mirae Asset Capital formed the fund, and affiliates including Mirae Asset Securities and Mirae Asset Venture Investment, as well as retail, participated as investors (LPs).
Looking at the investment structure, the share of investment by Mirae Asset Securities is the largest. While the contribution amount by Mirae Asset Securities is known to be around 200 billion won, the investment size by Mirae Asset Venture Investment is only about 4 billion won. As this structure became known, Mirae Asset Securities shares showed strength the previous day, while Mirae Asset Venture Investment shares were relatively weak.
Mirae Asset Group expects that if SpaceX pursues an initial public offering (IPO) in the future, a significant increase in equity value will be possible. SpaceX has recently been reported to have been valued at about $800 billion (about 1,180 trillion won) in over-the-counter stock transaction. Accordingly, there is also an observation that the value of SpaceX equity held by Mirae Asset Group could expand to about 5 to 6 times the current level.