Korean brokerages sit out Anthropic IPO after SpaceX setback - The Korea Herald
By Google News AI ·
No Korean firms join US underwriting syndicate, potentially limiting retail investors' access
South Korean brokerages are sitting out Anthropic's blockbuster US initial public offering, potentially leaving Korean retail investors without access to shares before the AI company's Nasdaq debut.
Their reluctance comes after Mirae Asset Securities failed to secure any share allocations for its clients despite participating in SpaceX's IPO underwriting syndicate.
The US artificial intelligence company filed its Form S-1 registration statement with the Securities and Exchange Commission on Oct. 26, setting the stage for what could become one of the world's largest IPOs this year, with a potential valuation of $2 trillion.
But Korean brokerages appear to be missing from the action.
None of the 22 financial institutions named in Anthropic's filing is a Korean brokerage, and no domestic firm has publicly disclosed participating in the offering. The Financial Supervisory Service has also received no related underwriting filings from local brokerages.
The absence could leave Korean retail investors without direct access to IPO shares, as allocations are typically distributed through members of the US underwriting syndicate.
Korean brokerages have long struggled to secure roles in major US listings because of their limited international underwriting networks. Their reluctance this time, however, also reflects the fallout from Mirae Asset Securities' unsuccessful participation in SpaceX's IPO.
Despite joining the underwriting syndicate, Mirae Asset ultimately received no share allocation for its clients. The failure triggered investor complaints and prompted an on-site inspection by the financial regulator into whether the subscription process involved any illegal…
Originally published by Google News AI