Coupang goes to the US stock market… “Estimated enterprise value of 55 trillion won”

Promoted the first Korean company to be listed directly on the New York Exchange
IPO next month… Stock quantity-public offering price undecided
Coupang, the number one e-commerce company in Korea, is the first Korean company to list directly on the New York Stock Exchange. On Wall Street in the US, it is predicted that Coupang’s corporate value will reach up to 50 billion dollars (about 55.2 trillion won).

Coupang announced on the 12th (local time) that it had submitted a report for listing on the New York Stock Exchange (NYSE) to the US Securities and Exchange Commission. It has been nine and a half years since founder Kim Bum-seok, Chairman of Coupang’s Board of Directors, announced the promotion of listing on NASDAQ in August 2011, the first anniversary of its founding.

Coupang will go through procedures such as an investment briefing session and demand survey, and then go to IPO next month. Although the number of listed stocks and the offering price are undecided, it plans to raise KRW 1.1 trillion through this listing. The stock code of the New York Stock Market is’CPNG’.

The Wall Street Journal (WSJ), a US economic magazine, estimated that Coupang’s enterprise value would reach 55.2 trillion won. This is 3 trillion won more than Hyundai Motor’s market capitalization, and exceeds the Coupang’s estimated value of 3,2 trillion won last month. WSJ said, “It will be the largest foreign company’s IPO since Alibaba Group’s blockbuster debut in 2014.” This outlook is due to the positive view that Coupang has been leading the domestic logistics and distribution industry, which is called’Korea’s Amazon’. Coupang’s sales last year reached 1.32 trillion won, up 91% from 2019. The operating deficit decreased from 720 billion won in 2019 to 580 billion won last year. Sajiwon [email protected]Go to reporter page>Reporter Eun-taek Lee