[Featured Stock] NAVER Breaks 400,000 Won Mark for the First Time on Coupang's US Listing News

[Asia Economy Reporter Jang Hyowon] Naver (NAVER) showed strength following Coupang's announcement of its U.S. stock market listing, breaking through the 400,000 KRW mark for the first time.

As of 9:53 AM on the 16th, Naver is trading at 401,500 KRW, up 4.15% compared to the previous day.

Earlier, Coupang announced on the 12th (local time) that it had submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) for the listing of common shares. Coupang's common stock ticker will be 'CPNG'. Although the number of shares to be listed and the offering price are undecided, the market expects the stock listing to be completed as early as next month.

Hyunyong Kim, a researcher at Hyundai Motor Securities, said, "Foreign media forecasts and Coupang's expected post-IPO market capitalization have been raised from the previous estimate of 30 billion USD to a maximum of 50 billion USD," adding, "Reflecting the value of the shopping business, Naver's corporate value is also expected to rise."

Researcher Kim added, "Naver's shopping division competes with Coupang for first place in terms of scale. Even assuming discounts compared to Coupang due to the absence of its own delivery network, Naver Shopping could be worth at least 6 trillion KRW and up to 18 trillion KRW."

This content was produced with the assistance of AI translation services.