Coupang to list on the New York Stock Exchange… Debut as early as March

Coupang, a domestic online shopping mall, will be listed on the New York Stock Exchange. Coupang announced on the 12th (local time) that it had submitted a report for listing on the New York Stock Exchange (NYSE) through a public announcement by the Securities and Exchange Commission (SEC). Initially, Coupang was known to be promoting listing on the NASDAQ, but it was listed on the NYSE. Coupang explained that it had submitted a declaration form S-1 for listing in Class A common stock. The number of shares and the range of the offering price have not yet been determined, and it is planned to be listed on the New York Stock Exchange under the stock code’CPNG’. Following the IPO process, Coupang is expected to run a roadshow for investors sooner or later and start trading stocks at NYSE after the public offering is outlined. Considering the period of this process, if there are no unforeseen variables, Coupang’s debut on the New York Stock Exchange seems to be a month later in March. Bloomberg News also said that at least six of Japan’s Softbank investment companies, including Coupang, are preparing for IPOs this year, and Coupang’s IPO is expected to proceed in the second quarter of this year. Bloomberg’s estimate of Coupang’s enterprise value was $30 billion (about 33.2 trillion won). Coupang’s listing on the US stock market has not ceased. In October 2019, former Fed director Kevin Wash, who was also mentioned as a candidate for chairman of the U.S. Federal Reserve System (Fed, Fed), was recruited as a company director. It was interpreted that whenever foreigners were hired as executives, they were in preparation for listing on the US stock market. However, the listing on the NASDAQ, not the NYSE, was predicted. According to Coupang’s S-1 registration document disclosed on the day, Coupang’s total sales last year were $1.97 billion (about 13,3 trillion won) and net loss was $474.9 million (about 525.7 billion won). . The net loss was significantly reduced from $698.8 million in the previous year.

Source: 세계일보 by www.segye.com.

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