34 million shares held by Coupang employees are released.

Input 2021.03.18 22:29 | Revision 2021.03.18 22:32

Coupang’s employees, listed on the U.S. stock market, can now sell their shares.

Coupang announced on the 18th (local time) that from the time the New York Stock Exchange (NYSE) opens, the’restrictions on early stock sale’ for some employees will be lifted.

This made it possible to trade approximately 34 million shares held by the early release staff group. Based on the closing price on the 17th, this is a scale of 1,472 million dollars (about 1.65 trillion won).

Coupang said, “Under the policy of prioritizing general employees over the company’s executives and investors before listing, the 180-day sale limit applied to existing employees has been reduced to 6 days.” However, executives of the company are not subject to the removal of the restriction on early sale.

According to the agreement to restrict the sale of Coupang executives and affiliates and the public offering supervisor, the restrictions on the sale of shares held by the current employees of Coupang as of December 31, 2020 were lifted. You can trade on the open market. Any remaining shares subject to the sale limit agreement will continue to be subject to the sale limit period.