Coupang closes 41% higher than public offering price on the first day of listing on the New York Stock Exchange

$4.6 billion raised by IPO… New York Stock Market Highest Performance of the Year

(New York = Yonhap News) Correspondent Il-Hwan Ko = On the 11th (local time), Coupang stock listed on the New York Stock Exchange (NYSE) closed the trade at $49.52, up 41.49% ($14.52) from the public offering price of $35.

On this day, the initial price of Coupang’s stock was $63.5, an increase of 81.4% from the offering price.

Coupang’s market capitalization at one time was $9.97 billion (approximately 111 trillion won), threatening the $100 billion mark.

CNBC reported that Coupang has raised $4.6 billion (about 5.2 trillion won) through this IPO. This is the best performance among companies that have IPOs on the New York Stock Exchange this year.

Coupang’s IPO target stock is 130 million shares, which are traded on NYSE under the ticker code’CPNG’.

Coupang banner and Korean flag hanging in front of the New York Stock Exchange
Coupang banner and Korean flag hanging in front of the New York Stock Exchange

(Seoul = Yonhap News) Coupang stock listed on the New York Stock Exchange (NYSE) on the 11th (local time) began trading at $63.5. The initial price of $63.5 jumped 81.4% from the offering price of $35.
In an interview with CNBC Broadcasting, Coupang Chairman Kim Bum-seok said, “The creativity of Koreans has created a’miracle of the Han River.’
The photo shows Coupang’s logo and Korean flag on the New York Stock Exchange building ahead of Coupang’s listing. 2021.3.12 [쿠팡 제공. 재판매 및 DB 금지] [email protected]

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