New York Stock Market Debut Coupang, 40.7% higher than public offering price… Market cap of 100 trillion won (total)

Best performing IPO companies on the New York Stock Market this year

(New York = Yonhap News) Correspondent Il-Hwan Ko = On the 11th (local time), Coupang shares listed on the New York Stock Exchange (NYSE) closed at $49.25, up 40.71% ($14.25) from the public offering price of $35.

The initial price of Coupang shares was $63.50, up 81.4% from the offering price.

It rose to $69.0 during the intraday, but after that, the pace of the increase declined, and at the end of the day, it paid the $50 mark.

According to Yahoo Finance, Coupang’s market cap stood at $8.85 billion (about 10 trillion won) based on the closing price.

It is reported that Coupang raised $4.55 billion (about 5,1678 billion won) in this IPO.

According to Bloomberg News, the Coupang IPO has become the largest foreign company listed on the U.S. since Alibaba in 2014, the largest on the New York Stock Exchange since Uber in 2019.

Japan’s Softbank Group, led by Chairman Son Jeong-eui (Masayoshi Son), has earned significant investment returns as Coupang recorded the highest performance among IPOs on the New York Stock Market this year.

SoftBank will invest $3 billion in both 2015 and 2018 to hold a 37% stake in Class A after public offering.

“We will invest billions more dollars in infrastructure and technology and create 50,000 additional jobs,” said Coupang Chairman of the Board of Directors Kim Bum-seok to Reuters.

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

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2021/03/12 06:56 sent