[Featured Stock] Coupang's Spectacular IPO... Related Stocks Also Surge Upward

[Asia Economy Reporter Lee Seon-ae] Following Coupang's successful listing on the US stock market, Coupang-related stocks in the domestic market are showing movement in the early trading session.

As of 9:27 AM on the 12th, Seoul Food, which supplies pizza and cookies to Coupang, is trading at 499 KRW, up 12.64% from the previous day. Mirae Life Resources, an Original Design Manufacturer (ODM) for Coupang's pet specialty brand 'Tamsa,' is trading at 5,650 KRW, up 5.21% from the previous day. KTH, which collaborates on Coupang's OTT service Coupang Play and movie content, is also up 1.47%, trading at 10,350 KRW.

Additionally, Naver and E-mart, expected to be revalued due to Coupang's listing, are also on the rise. Naver is up 3.35% to 386,000 KRW, and E-mart is up 1.69% to 180,500 KRW.

According to Eugene Investment & Securities, on its first day of listing on the New York Stock Exchange (NYSE), Coupang's initial desired public offering price was set at $35 per share with 1.3 trillion shares offered. As a result, Coupang raised $4.55 billion (approximately 5.2 trillion KRW).

Researcher Joo Young-hoon of Eugene Investment & Securities commented, “On the first day of listing, the 11th, Coupang's stock price rose 41.5%, closing at $49.5 per share. Although the increase was smaller compared to the opening price of $63.5 and the intraday high of $69, it was a successful start.”

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