On the 11th (local time), Coupang, which debuted on the New York Stock Exchange in the United States, successfully closed the deal on the first day. The deal closed at $49.25, an increase of 40.71% ($14.25) from the offering price of $35, the largest in the history of the US IPO this year.
Coupang, which started trading at $63.50, closed at $49.25 on the same day and recorded a market cap of $8.85 billion (about 100 trillion won), CNBC and other foreign media reported.
Coupang set an offering price of 35 dollars. It was a little higher than the initial estimate of 32-34 dollars.
As soon as Coupang started its first trading day, the stock price soared 80%, recording an initial price of $63.50.
However, after a little decline, it ended successfully at $49.25 to make its debut on the New York Stock Exchange.
Coupang’s IPO is the largest in the New York Stock Exchange this year. Also, even if the time is extended to the past, foreign media reported that it is the largest since Uber in 2019. It is reported that Coupang raised $4.55 billion (about 5.2 trillion won) through this IPO.
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CNBC said, “In the aftermath of Corona 19, Coupang led the e-commerce boom as many consumers stayed at home.” “Last year, sales nearly doubled to 12 billion dollars.”
The media also evaluated that the success of the Coupang listing led to the success of Chairman Son Jeong-eui’s SoftBank writing another venture success story. Softbank’s Vision Fund holds more than 35% of Coupang.