Coupang IPO: Aiming for $3.6 Billion Raise at $51 Billion Valuation

Coupang IPO: Pricing and Market Valuation

An updated S-1 filing reveals that Coupang, South Korea’s leading e-commerce platform, anticipates pricing its initial public offering within a range of $27 to $30 per share.

This offering could potentially generate up to $3.6 billion for the company.

Following the IPO, the total number of Coupang shares outstanding—encompassing both Class A and Class B shares—is projected to reach 1.7 billion.

Consequently, the anticipated pricing suggests a potential market capitalization for Coupang between $46 billion and $51 billion.

This represents a substantial increase compared to the $9 billion valuation achieved during its previous funding round in 2018, which was spearheaded by SoftBank Vision Fund.

Share Offering Details

A total of 120 million shares will be offered during the IPO by Coupang and its existing shareholders.

Success in this IPO would be a significant benefit for SoftBank Vision Fund, which is expected to hold 36.8% of the Class A shares post-listing.

Company Background and Ownership

Established in 2010 by Bom Kim, Coupang has become recognized for its exceptionally fast delivery services.

Currently, it stands as the largest e-commerce entity in South Korea, as reported by Euromonitor.

Post-listing, Bom Kim is projected to maintain 76.7% of the voting power, while SoftBank Vision Fund will control approximately 8.6%.

Other investors with a stake of 5% or more in Coupang include Greenoaks Capital Partners, Maverick Holdings, Rose Park Advisors, BlackRock, and Ridd Investments.

Listing Information

Coupang submitted its application to go public on the New York Stock Exchange last month, utilizing the ticker symbol CPNG.

Data from Bloomberg indicates that Coupang’s listing will be the fourth-largest IPO by an Asian company on a U.S. exchange.

It will also be the most significant since Alibaba’s $25 billion IPO in 2014.

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