- SoftBank Group Corp SFTBY SFTBF Vision Fund's block trade sale worth $1 billion on March 9 triggered Coupang Inc CPNG share's recent meltdown.
- SVF Investments (UK) Ltd sold 50 million Coupang shares for $20.87 per share.
- Coupang's shares closed at $22.70 on March 9 and $18.94 on March 10.
- Also Read: South Korean E-Commerce Company Coupang Files IPO
- SoftBank is Coupang's largest shareholder with a 29% stake, Bloomberg reports.
- SVF sold 57 million shares for $29.685 per share on September 14.
- Recently Goldman Sachs Group Inc GS marketed a block of 50 million shares in Coupang, Bloomberg notes.
- Benzinga had spotted these Bearish Whale Trades on March 11.
- Price Action: CPNG shares are down by 2.76% at $16.94 on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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