Coupang's Successful US Listing Accelerates IPO Pace for Domestic E-commerce Companies

Coupang Closes at $48.47 on Second Day After IPO
Tmon, Market Kurly Begin Full-Scale IPO Preparations

[Asia Economy Reporter Kim Cheol-hyun] Domestic e-commerce company Coupang successfully listed on the New York Stock Exchange (NYSE), accelerating the pace of initial public offerings (IPOs) among competing companies in the industry. The positive evaluation of Coupang in the global investment market is also interpreted as a sign of the significant growth potential of the domestic e-commerce market.

On the second day of trading on the NYSE, the 12th (local time), Coupang closed at $48.47 per share, down 1.6% ($0.78). The price fell to $46.25 before rebounding just before the market closed. Yahoo Finance analyzed Coupang's market capitalization on that day at $87.2 billion (approximately 99.2 trillion KRW).

The success of Coupang has also sped up the moves of domestic e-commerce companies preparing for IPOs. Notably, TMON is pushing for a domestic listing within the year. Recently, it has smoothly completed a capital increase of 305 billion KRW through pre-IPO equity investments as part of its preparations.

Foreign investment firms also participated in this capital increase, reaffirming the high evaluation and interest of overseas capital in TMON's competitiveness and growth potential, as well as the rapidly growing Korean e-commerce industry.

Market Kurly is also considering listing on the U.S. stock market following Coupang. Although Market Kurly focuses on the food sector and its transaction volume is smaller compared to Coupang, it demonstrates comparable competitiveness in fresh food early morning delivery.

In particular, there is a sense of urgency reflecting concerns that if the domestic e-commerce market is reorganized around big players, such as Coupang starting to invest the massive funds secured through its listing, other companies may fall behind in the market. It is analyzed that this year, when both domestic and international IPO market conditions are favorable and the evaluation of the domestic e-commerce market is high, is considered the right time for listing.

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