Coupang Raises 230 Billion Won Through Paid-in Capital Increase to Secure Operating Funds

[Image source=Yonhap News]

[Asia Economy Reporter Kim Bo-kyung] Coupang has conducted a paid-in capital increase worth approximately 230 billion KRW to secure operating funds.

On the 20th, Coupang announced that at the board meeting held on the 13th, it decided to raise 228.74 billion KRW through a paid-in capital increase. Coupang's existing number of shares is 254,294, all of which are 100% owned by its U.S. subsidiary, Coupang Inc.

Coupang secured 228.74 billion KRW by issuing 4,574 new shares at 50 million KRW per share through a rights offering to shareholders. This is a transfer of funds raised through the 5 trillion KRW capital raised from its listing on the New York Stock Exchange (NYSE) in March to South Korea.

Since its founding, Coupang has continuously posted losses, recording operating losses of 720.5 billion KRW in 2019 and 550.4 billion KRW last year.

However, it continues aggressive investments such as establishing logistics centers nationwide and expanding employment to strengthen its fast delivery service.

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