Coupang Makes a Spectacular Debut on US Stock Market... IPO Price Closes Up 41%

Chairman Kim Beom-seok and Key Executives Ring the 'Opening Bell'
Coupang States "Recognized for Competitiveness on the Global Stage"
Raised 5 Trillion Won through IPO... Best Performance on the New York Stock Exchange This Year

[Asia Economy Reporter Kim Bo-kyung] Coupang successfully debuted on the New York Stock Exchange, raising funds amounting to 5 trillion won.

On the 11th at 9:30 AM (local time), Coupang was listed on the New York Stock Exchange (NYSE) and rang the 'opening bell' to mark the start of trading. The NYSE is the world's largest stock exchange and is also known as the 'Big Board.'

The opening bell ceremony was held to celebrate Coupang's listing on the NYSE and to commemorate its first step in the global financial market. Key executives including Coupang's Chairman of the Board Kim Beom-seok, CEOs Kang Han-seung and Park Dae-jun, and CFO Gaurav Anand attended the event.

Customers, delivery workers, and open market sellers who have shared Coupang's challenges and growth also joined the opening bell virtually, adding significance to the occasion.

Among those celebrating Coupang's listing were customer Kang Yu-rok, who participated in last year's customer story event "My Coupang Story" by ordering hometown food through Rocket Fresh; Kim Dan-ah, the 10,000th Coupang Friend (delivery worker); and Lee Ra-mi, CEO of Bets Recipe (a pet nutrition brand) which is listed on Coupang Marketplace, along with six others.

A Coupang representative said, "We are pleased to have the name 'Coupang' on Wall Street, the center of global finance," adding, "Having been recognized for our competitiveness on the world stage, we will use this as a stepping stone to continue taking on greater challenges."

On the day, Coupang's stock closed at $49.52, up 41.49% ($14.52) from the IPO price of $35. The opening price was $63.50, an 81.4% increase from the IPO price, but the gains narrowed afterward, and the stock fell below the $50 mark near the end of trading.

Coupang's market capitalization at one point reached $97.97 billion (approximately 111 trillion won), threatening to surpass the $100 billion mark.

CNBC reported that Coupang raised $4.6 billion (5.22 trillion won) through this IPO, marking the highest performance among companies that went public on the New York Stock Exchange this year.

The IPO involved 130 million shares, which are traded on the NYSE under the ticker symbol 'CPNG.'

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