[경제]Coupang application for listing on the US stock market…foreign media “the largest after Alibaba”

[경제]Coupang application for listing on the US stock market…foreign media “the largest after Alibaba”

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Coupang, a domestic online shopping mall, applied for listing on the New York Stock Exchange (NYSE).

On the 12th (local time), Coupang applied for a public offering (IPO) in accordance with the S-1 form for listing of Class A common stock in the registration documents disclosed to the US Securities and Exchange Commission (SEC). Initially, Coupang was known to be promoting listing on NASDAQ, but chose NYSE. The number of common stocks to be listed and the price range of the offering have yet to be determined.

US economic media Bloomberg News reported that “according to a form filed with the SEC on Friday, Coupang based in Seoul will soon enter the New York Stock Exchange under the ticker code CPNG.” The news agency introduced that “Coupang’s investors include Softbank Group’s Vision Fund, Black Rock Corporation, and Sequoia Capital.”

According to Coupang’s S-1 registration documents, Coupang’s total sales last year was $1.97 billion (about 13.25 trillion won), and its net loss was $474.9 million (about 525.7 billion won).

Bloomberg said, “Coupang expects that the Korean e-commerce market will be the fifth-largest market in the world, and by 2021 it will be the third after China and the United States.” “Coupang CEO Kim Bum-seok has been contemplating IPOs since several years ago.” “Coupang was able to expand shopping and delivery services through the investment of Softbank despite fierce competition with eBay Co., Ltd. Gmarket, Shinsegae and Lotte.” Said.

Coupang is expected to run a roadshow for investors in accordance with the public offering procedure soon, and when the public offering is outlined, stock trading at NYSE is expected.

Foreign media believe that the scale of public offering will be the largest since China’s Alibaba. On the 12th, the Wall Street Journal (WSJ) reported on Coupang’s listing plans and reported that “it is expected to become the largest foreign company IPO since the Alibaba Group in 2014.”

YTN PLUS Reporter Jeong Yoon-joo
([email protected])

[저작권자(c) YTN & YTN plus 무단전재 및 재배포 금지]

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