Coupang, growing expectation for listing… delivery staff also receive stock

As Coupang filed a public offering report on the New York Stock Exchange (NYSE), expectations from both sides for listing are growing. It is known that Coupang will secure a huge investment in the process of listing.

Above all, Coupang plans to provide 100 billion won worth of stocks to delivery-related employees such as Coupang friends during the listing process.

On the 14th, Coupang’s corporate disclosure report filed with the US Securities and Exchange Commission (SEC) reflects the expectations of Coupang Chairman Kim Bum-seok about the listing.

This is because Coupang’s ransom is expected to reach 55 trillion won, far exceeding expectations, and a considerable amount of gains from listing are expected for Chairman Kim and other shareholders. Coupang is also expected to succeed in raising funds worth 1 trillion won (about 1 billion dollars) in this process. Meanwhile, Coupang has recorded a deficit every year.

In the process, Coupang plans to provide shares worth 100 billion won ($90 million) to regular employees of non-managers such as order processing centers, various office workers, including Kuchin, a delivery manpower, along with listing.

In the report, Coupang said, “The front line employees are the basis of Coupang and one of the reasons for its success. I plan to do so.”

Along with this, Coupang announced in a declaration that it would hire 50,000 additional people by 2025. The plan is to hire an average of 10,000 people a year starting this year. According to this plan, Coupang’s workforce will increase to 100,000 by 2025.

The fact that Chairman Kim’s dominance is strengthened through this drastic strategy was also key.

Coupang granted differential voting rights to shares held by Chairman Kim. With 29 times the differential voting rights per share for the shares held by Chairman Kim, 29% of the voting rights are received with only 1% of the shares. Coupang shares are divided into Class A common stock and Class B common stock, of which Class B is given differential voting rights. All Class B shares are held by Chairman Kim.

It is said that even after listing, Chairman Kim’s dominance is solidified. In the industry, if there are no clear variables, Coupang’s IPO is expected to take place in March.