Mirae Asset Vision Special Purpose Acquisition 5미래에셋비전스팩5호

This is a SPAC with no merger target yet, so its near-term story depends on a future deal rather than on current operations.

Mirae Asset Vision Special Purpose Acquisition 5 is a KOSDAQ-listed blank-check company with a market value of about ₩11.4B at ₩2,075 per share. It has no revenue and no operating business; its filings and profile say it has not yet selected a merger target. Recent filings are routine governance and reporting items, and the data includes no news headlines.

What stands out

• Trailing results show an operating loss of about ₩50M and net income of about ₩179M in the first half of 2026, so the profit is not coming from operations; the data does not explain the source of the net income.
• Borrowings of about ₩1.58B sit against cash of about ₩128M, and liabilities are 15.2% of equity, per the filed figures.
• The share price is close to its 52-week range, at ₩2,075 against a high of ₩2,192 and a low of ₩2,040, with returns of +0.5% over one month, -0.2% over three months and -0.7% over one year.
• Trading activity is thin: foreign ownership is now 0%, short balance is 0%, and 20-day net flows are negative across foreign, institutional and retail investors.
• Valuation metrics such as P/E of 63.6x and P/B of 1.1x are not meaningful comparisons with the large Korean brokers and card company listed as peers, which trade at much lower multiples and operate real businesses.

What to watch

• Any announcement naming a merger target, since the profile says the company has not yet selected one and the merger must be completed within the legally required period.
• The filing on the June 2026 deposit and trust agreement changes and any further governance or shareholder-meeting filings.
• Revenue and operating lines are not reported for this company, so the next half-year or annual filings will mainly show whether the net income and borrowings change.