{"id":531277,"date":"2021-02-22T23:18:02","date_gmt":"2021-02-22T23:18:02","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=531277"},"modified":"2021-02-22T23:18:02","modified_gmt":"2021-02-22T23:18:02","slug":"coupang-files-for-an-initial-public-on-nyse","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/coupang-files-for-an-initial-public-on-nyse_531277.html","title":{"rendered":"Coupang Files For An Initial Public On NYSE"},"content":{"rendered":"
\"Coupang<\/a><\/div>\n

South Korean e-commerce giant,Coupang, files for an initial public offering on the New York Stock Exchange<\/em><\/p>\n

According to the IPO documents submitted to the U.S. Securities and Exchange Commission, the Seoul-based company has stated that it will sell Class A common stocks on the New York market. However, details of the offering are yet to be disclosed.<\/p>\n

If the e-commerce giant is able to successfully list its stocks in the United States, it would mark the biggest IPO for a foreign company since the debut of Alibaba in 2014, with the Chinese entity valued at about $168 billion at that time.<\/p>\n

Korea’s SK Investment & Securities has predicted that Coupang’s value would be higher than $50 billion considering its rapid growth, with HMC Investment & Securities estimating its worth to be around $35 billion.<\/p>\n

In the IPO plan, the company said its 2020 revenue almost doubled to $12 billion from a year before, with net loss decreasing from $699 million to $475 million during the period.<\/p>\n

Analysts have stated that Coupangconsidered the NYSE instead of the Korean bourse to strengthen the company’s leaders’ grip on the online retailer.<\/p>\n

“Coupang appears to go for the New York Stock Exchange because it can take advantage of a multi-class share structure, which is not possible in Korea<\/em>,” HMC Investment & Securities analyst Kim Hyun-yong told UPI News Korea.“Coupang’s listing is expected to take place in March,<\/em>” he said.<\/p>\n

According to the IPO plan, the founder of Coupang, Bom Kim, will have a class of stock with 29 votes per share with other investors in the IPO getting one vote per share.<\/p>\n

“Even if CEO Bom Kim holds just 2 percent of Coupang shares after the IPO, he will be able to control up to 58 percent of the voting rights at the shareholders’ meeting<\/em>,” said Hana Financial Investment analyst, Park Jong-dae.<\/p>\n

The Harvard dropout Bom Kim established Coupang in 2010 and has chalked up an ultra-fast growth of the company, a strategy that has led to losses in the region of $4 billion. However, investors have recognized its growth potential as demonstrated by SoftBank’s Vision Fund, which channeled around $3 billion into the cash-burning start-up.<\/p>\n

For more IPO news from different parts of the world, please visit – https:\/\/whiteoakcapital.asia<\/a>.<\/p>\n

Media Contact<\/span>
Company Name:<\/strong> White Oak Capital (Asia)<\/a>
Contact Person:<\/strong> Mr Craig Stevens
Email:<\/strong> Send Email<\/a>
Phone:<\/strong> +852 3001 6191
Address:<\/strong>36 FL Shun Tak Centre West Tower 168-200 Connaught Road, Central
City:<\/strong> Sheung Wan
Country:<\/strong> HongKong
Website:<\/strong> https:\/\/whiteoakcapital.asia\/<\/a><\/p>\n

<\/object>\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

South Korean e-commerce giant,Coupang, files for an initial public offering on the New York Stock Exchange According to the IPO documents submitted to the U.S. Securities and Exchange Commission, the Seoul-based company has stated that it will sell Class A … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[401,425,426,419,412],"tags":[],"class_list":["post-531277","post","type-post","status-publish","format-standard","hentry","category-Business","category-Finance","category-Financial-Market","category-Media-Communications","category-News-Current-Affairs"],"_links":{"self":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/531277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/comments?post=531277"}],"version-history":[{"count":0,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/531277\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/media?parent=531277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/categories?post=531277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/tags?post=531277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}