Coupang to Go General public on New York stock market

Coupang ideas to list itself on the New York stock market. Korea's biggest online merchant on Feb. 12 explained it put on the U.S. Securities Exchange Commission to get consumer on the NYSE.

Parent company Coupang LLC authorized in the U.S. talk about of Delaware improved its brand to Coupang Inc. ahead of the filing. The quantity of shares to come to be issued and the subscription price have yet to be decided.

The Wall Road Journal said Coupang is valued at US$50 billion.

Coupang seems to have chosen the NYSE since it has a lower access barrier compared to the Korean bourse to improve capital.

Securities industry resources said Coupang, which found stellar growth since opening in 2010 2010, continues to be saddled with huge debts, so that it is difficult to obtain listed in Korea.

Kosdaq listing takes a company to come to be evaluated predicated on profits, sales and collateral.

Up to now Coupang has secured $3 billion in investments from Japan's Softbank, but its cumulative losses stand at $4.12 billion following aggressive investments in logistics centers in the Seoul metropolitan region and hiring delivery workers.

Last year by itself, it suffered a net loss of $475 million, downward from $699 million despite record product sales amid the COVID-19 epidemic. In addition, Masayoshi Son, the top of Softbank, said this past year that he hopes to recoup his expense in Coupang.

The web retailer said in a filing to the SEC that it hopes to improve $1 billion from the original public offering.

The SEC filing also revealed Coupang's earnings. Sales in 2020 totaled $11.97 billion, almost doubling from 2019 or more an impressive 275 times in comparison to 2013. As of the end of last year, it had 14.9 million "energetic" customers who experienced bought any item within the previous three months, with each of them spending an average of $256 per quarter.