- South Korean e-commerce company Coupang CPNG, backed by SoftBank Group Corp SFTBF, filed for an initial public offering.
- The number of shares and the price range for the IPO are yet to been determined.
- It has applied for listing on the NYSE under the ticker symbol "CPNG."
- Goldman Sachs & Co. LLC, Allen & Company LLC, J.P. Morgan, BofA Securities and Citigroup are the lead book-running managers for the IPO. HSBC, Deutsche Bank Securities, UBS Investment Bank, Mizuho Securities, and CLSA are the bookrunners.
- Coupang’s revenue rose 91% to $11.97 billion year-on-year, and net loss fell 32% to $474.9 million.
- SoftBank made a $1-billion investment in Coupang in 2015. SoftBank’s Vision Fund invested an additional $2 billion in 2018. Coupang was valued at $9 billion based on the last round of funding CNBC reports.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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