Naver’s share price rises as Coupang officially lists in the US… “Why?”

Naver’s share price rises as Coupang officially lists in the US… “Why?”

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On the 15th, in the securities market, Naver showed a 4% strength, exceeding 380,000 won. / Naver headquarters in Seongnam-si, Gyeonggi-do. [사진=연합뉴스] Ⓜ
In the stock market on the 15th, Naver showed a 4% strength, exceeding 380,000 won. / Naver headquarters in Seongnam-si, Gyeonggi-do. [사진=연합뉴스] Ⓜ

[미래경제 김금영 기자] While Coupang officially announced its listing on the New York Stock Exchange (NYSE), attention is also being drawn to NAVER.

As Coupang’s promotion of listing on NYSE began in earnest, domestic Coupang-related stocks such as Dongbang, KTH, KCTC, Otek and Danal surged on the 15th. At 11:14 am on this day, Dongbang, KTH, KTH, KCTC, etc., rose to the price limit and recorded the upper limit.

In particular, the stock market is paying attention to Naver. On this day, Naver showed a 4% strength in the securities market, surpassing 380,000 won, and was on a tight rise.

According to Kyobo Securities, the size of the domestic e-commerce market last year is estimated to be 161 trillion won, up 19.1% from the previous year. Among them, Naver and Coupang compete for first and second place with 17% and 13%, respectively. Among these, the expectation that Coupang, its rival Naver Shopping, will also be reevaluated if Coupang is recognized for its growth potential along with listing.

Park Ji-won, a researcher at Kyobo Securities, said in a report on the day, “With Coupang’s listing, there is a growing interest in investment in top-tier companies that are showing a growth rate that surpasses the growth of the Korean e-commerce market. If Coupang succeeds in listing on NYSE in recognition of its future growth potential, it is expected that Naver Shopping, the number one business in Korea, will also be reevaluated.”

On that day, Hyundai Motor Securities also raised its target price from KRW 450,000 to KRW 500,000, saying, “We are expected to benefit from Coupang’s listing on NYSE.”

Coupang announced on the 12th (local time) that it has submitted a report to the Securities and Exchange Commission (SEC) in accordance with the S-1 form for listing of Class A common stock (hereinafter referred to as common stock). / Coupang headquarters in Sincheon-dong, Songpa-gu, Seoul. [사진=연합뉴스] Ⓜ
Coupang announced on the 12th (local time) that it has submitted a report to the Securities and Exchange Commission (SEC) in accordance with the S-1 form for listing of Class A common stock (hereinafter referred to as common stock). / Coupang headquarters in Sincheon-dong, Songpa-gu, Seoul. [사진=연합뉴스] Ⓜ

Meanwhile, Coupang announced on the 12th (local time) that it has submitted a report to the Securities and Exchange Commission (SEC) in accordance with the S-1 form for listing of Class A common stock (hereinafter referred to as common stock).

Initially, Coupang was known to be promoting listing on the NASDAQ, but chose the larger NYSE as the exchange. In contrast, Coupang, whose cumulative deficit reached 4 trillion won until last year, is expected to break through the deficit trend and continue aggressive investment.

According to the industry, Coupang is expected to be valued at over $30 billion to $50 billion. Bloomberg recently reported on the possibility of listing Coupang and predicted that “the enterprise value will be estimated to be around 30 billion dollars (about 33 trillion won).”

The Wall Street Journal also analyzed that it would reach 50 billion dollars (about 55 trillion won) higher than this. The stock market predicted that Coupang will make its debut on the stock market next month after going through the necessary procedures for listing.

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