$35 per week… Equivalent to 42 million dollars
Declining to 76.2% of voting rights
Coupang, founder of Coupang, an e-commerce (e-commerce) company that made a successful debut on the New York Stock Exchange (NYSE), sold 1.2 million treasury shares. Coupang’s Bum-Seok Kim, Chairman of the Board of Directors, is posing in front of the exchange. /Photo = AP
Coupang, founder of Coupang, an e-commerce (e-commerce) company that made a successful debut on the New York Stock Exchange (NYSE), sold 1.2 million treasury shares.
According to a disclosure by the US Securities and Exchange Commission on the 16th, Coupang announced through a disclosure that Chairman Kim sold 1.2 million shares of Class A common stock on the 15th (local time). The average selling price is $35 per share, and the total sale amount is equivalent to $42 million (about 47.5 billion won).
Coupang, founder of Coupang, an e-commerce (e-commerce) company that made a successful debut on the New York Stock Exchange (NYSE), sold 1.2 million treasury shares. Photo = Courtesy of Coupang
At the time of listing, Chairman Kim owned Class B, which had 29 times more voting rights than Class A common stock, and had a 10.2% stake. For this sale, Chairman Kim converted 1.2 million Class B shares into circulating Class A common shares. Voting rights have decreased from 76.7% to 76.2%.
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