Mar 11, 2021 10:44 AM (GMT+8)
According to people familiar with the matter, coupang, South Korea's largest e-commerce company invested by Softbank, has set its US IPO price at US $35, which is higher than its target range of US $32-34. It will sell 120 million shares to raise US $4.2 billion, with a market value of US $60 billion. That makes coupang the biggest IPO in U.S. stocks so far this year, surpassing bumble's $2.15 billion last month. The company's shares will begin trading on the New York Stock Exchange on Thursday under the code "cpng.".
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