Coupang Sets New York IPO Price at Historic $35
11 March, 2021
Seoul-based e-commerce company Coupang has priced its initial public offering at US$35, in line with the Wall Street Journal on Wednesday, ahead of its listing on the New York STOCK MARKET on Thursday.
The price is greater than a targeted selection of $32 to $34 per share, that was already raised from $27-30 the business in the beginning suggested last month. At $35 apiece, Coupang could raise $4.2 billion by offering 120 million shares with a market value of $60 billion.
It will be the largest listings in the U.S. Currency markets by a foreign company since Alibaba Band of China's debut in 2014.
Coupang chief Kim Bom-suk will keep 10.2 percent of the business's shares, while Japan's Softbank, its most significant shareholder with a 37 percent stake, is likely to make an enormous profit.
Shares will be traded beneath the ticker of "CPNG" from Thursday.
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