Deals

South Korea’s Coupang Seeks Up to $3.6 Billion in New York IPO

E-commerce group could be valued at up to $51 billion
IPO to be one of largest ever by an Asian firm in the U.S.

Watch: South Korean e-commerce giant Coupang Inc. is seeking to raise as much as $3.6 billion from a New York IPO.Crystal Tse reports.(Source: Bloomberg)

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By Julia Fioretti and Crystal Tse

March 1, 2021 at 5:40 PM UTC

This article is for subscribers only.

South Korean e-commerce giant Coupang Inc. is seeking to raise as much as $3.6 billion from an initial public offering in New York, which will rank as one of the largest-ever Asian listings in the U.S.

Seoul-based Coupang and some existing shareholders are offering 120 million shares at $27 to $30 each, according to a filing Monday. At the top end of the range, Coupang will be valued at as much as $51 billion based on the number of shares outstanding.