Coupang IPO Price Set at $35... Trading on New York Stock Exchange Begins on the 11th

[Image source=Yonhap News]

[Asia Economy Reporter Park Byung-hee] On the 11th (local time), Bloomberg News reported on the 10th, citing sources, that Coupang's IPO price debuting on the New York Stock Exchange was set at $35 (approximately 39,862 KRW).

The IPO price was decided higher than the $32 to $34 range presented in the materials Coupang submitted to the U.S. Securities and Exchange Commission (SEC) the previous day. This indicates strong demand for Coupang.

Bloomberg explained that Coupang is valued at about $60 billion in enterprise value. It will be the largest foreign company to debut on the New York Stock Exchange since Alibaba in 2014.

With an IPO price of $35, Coupang can raise nearly 5 trillion KRW in funds. The largest shareholder, SoftBank, is also expected to secure about $16 billion.

Coupang is scheduled to have its first trade on the NYSE on the 11th under the ticker symbol 'CPNG'.

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