[서울=뉴스핌] Reporter Nam Rada = Coupang, an e-commerce company, rewrote the history of Korean unicorn companies. Coupang listed on the New York Stock Exchange (NYSE) on the 11th (local time) reached 72 trillion won.
This is the fourth largest Asian company listed on the US stock market, and the largest among companies that have entered the New York Stock Exchange since Alibaba in 2014. Coupang, which started as a startup in 2010, debuted on the New York Stock Exchange 11 years after its founding, and gained a reputation as a global distribution company.
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| [서울=뉴스핌] Reporter Nam Lada = The Korean flag is flying in the heart of Wall Street in New York. Ahead of Coupang’s listing, the Korean National Flag was hoisted along with Coupang’s logo on the New York Stock Exchange building in Manhattan. [사진=쿠팡 제공]2021.03.11 [email protected] |
Only two Korean companies with higher corporate value than Coupang are Samsung Electronics (about 489 trillion won based on market cap) and SK Hynix (about 99 trillion won).
On this day, a large logo celebrating Coupang’s listing and a Korean flag were also displayed on the wall of NYSE in the heart of Wall Street in the United States.
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| [서울=뉴스핌] Reporter Nam Lada = Ahead of Coupang’s listing, the Korean flag and the flag of Coupang were hoisted on the New York Stock Exchange building in Manhattan, USA. [사진=쿠팡] 2021.03.11 [email protected] |
On the day, Coupang announced that it calculated the offering price for 130 million shares (Class A common stock) subject to IPO at $35 per share (39,822 won). The listing size increased by 10 million shares from the 120 million shares originally announced by Coupang through the U.S. Securities and Exchange Commission (SEC) listing declaration.
The public offering price is also higher than the $32-34 range Coupang presented through data submitted to the SEC the day before. Coupang’s enterprise value is 63 billion dollars (about 71,8263 billion won).
The amount of funds raised by Coupang through this listing is $4.55 billion (approximately 5,168.8 billion won). The stock started trading on NYSE from this day under the ticker code’CPNG’. The competition is scheduled to end on the 15th according to the general termination procedure.
Meanwhile, Coupang said it had approved the IPO declaration filed by the SEC to sell securities.