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SoftBank-Backed Coupang Prices U.S. IPO Above Target

  • South Korean e-commerce company sells shares for $35 each
  • Coupang shares set to begin trading Thursday on NYSE
Eco-bags carrying fresh food move along a conveyor belt at a Coupang Corp. fulfillment center in Bucheon, South Korea, on Feb. 19.

Eco-bags carrying fresh food move along a conveyor belt at a Coupang Corp. fulfillment center in Bucheon, South Korea, on Feb. 19.

Photographer: SeongJoon Cho/Bloomberg
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South Korean e-commerce giant Coupang Inc. and a group of existing shareholders have raised $4.6 billion in an enlarged offering, making it one of the biggest listings by an Asian company on a U.S. exchange.