![[서울신문] Coupang listed on the New York Stock Exchange under the Korean flag for per share](https://img.seoul.co.kr/img/upload/2021/03/12/SSI_20210312000255.jpg "[서울신문] Coupang listed on the New York Stock Exchange under the Korean flag for per share")
Expected to raise 5 trillion won through the disclosure of 120 million shares
▲ The Stars, Stripes, and Korean Flags were hoisted along with Coupang’s logo on the New York Stock Exchange building in Manhattan, USA. News 1
Coupang’s public offering price, which is entering the New York Stock Exchange (NYSE), was decided to be $35 (about 40,000 won), which is higher than the originally hoped price.
On the 9th, just before the public offering price was finalized, Coupang raised its hoped price from $27-30 to $32-34, but the final offering price was higher than this. Coupang’s code is’CPNG’.
Coupang’s stocks subject to public offering are a total of 120 million shares, including 100 million new stocks and old stocks. If calculated at the public offering price, a total of 4.2 billion dollars (about 4.78 trillion won) will be raised.
This is the largest among foreign companies since Alibaba, China’s largest e-commerce company, was listed on the New York Stock Exchange in 2014.
The US game company Roblox, which was listed the day before, formed an initial price of 64.50 dollars and rose to 74.83 dollars during the day.
Roblox, a California-based game platform, is the most popular game platform among children under the age of 13, and is popular enough to be used by two-thirds of American children. Coupang also has something in common that users have skyrocketed because of the coronavirus.
US local media have cited Coupang’s’rocket delivery’, which is similar to Amazon’s Prime service, delivered within 24 hours as a factor for Coupang’s success.
Coupang is expected to use most of its new investment, amounting to 5 trillion won, raised by listing on the New York Stock Exchange to expand its logistics center and expand new businesses such as fintech.
In particular, it is expected to focus on accelerating the nationalization of rocket ships. Currently, it is estimated that about 70% of Coupang’s rocket ships are available.
The biggest beneficiary of the Coupang box office is SoftBank, led by Chairman Son Jeong-eui. Softbank is expected to generate about 19 billion dollars (21,6391 billion won) of revenue even if it is set only at the public offering price. This means that it has earned 7 times the amount of the investment.
Softbank invested a total of $3 billion (3.4 trillion won) in Coupang in 2015 and 2018, and currently holds a stake of about 37%.
Reporter Yoon Chang-soo [email protected]