Coupang aims to raise 4 trillion won in the US stock market… Aiming for the 2nd Alibaba

Coupang plans to raise up to $3.6 billion (approximately 4.2 trillion won) through listing on the New York Stock Exchange (NYSE). If Coupang succeeds in IPO, the corporate value is expected to reach a maximum of 51 billion dollars (about 57 trillion won).

According to Bloomberg on the 2nd, Coupang submitted a document to the U.S. Securities and Exchange Commission (SEC) stating a plan to sell 120 million shares for $27¤30 per share in the IPO. The amount of financing based on the top of the bid price is up to $3.6 billion (about 4 trillion won).

If Coupang raises $3.6 billion, it will be the fourth-largest Asian company IPO in the history of the US stock market. No. 1 was Alibaba ($25 billion), China’s largest e-commerce company in 2014.

The biggest investment profit from this listing is Chairman Son Jeong-eui’s Softbank. Softbank invested $3 billion in 2015 and 2018. Coupang founder Kim Bum-seok, chairman of the board of directors, receives Class B common stocks with differential voting rights equal to 29 times the amount of ordinary stocks. After listing, the voting rights of Chairman Kim’s shares are 76.7%, which is expected to enable stable management.

Goldman Sachs, Alan & Co, JP Morgan Chase, Citigroup, HSBC Holdings, Deutsche Bank, UBS Group, Mizuho Finance, and CLSA Securities will participate in this IPO as the organizers.