Coupang Pares IPO Surge Before Insiders Get Early Shot to Sell

Coupang Inc. insiders may be poised to unload shares on Thursday, thanks to an unusual provision that’s allowing them to seize on early gains a little over a week after the company’s initial public offering.

By Monday, shares of the South Korean e-commerce giant had surged 44% since the March 10 IPO. But they have since given back some gains, dropping as much as 4% Wednesday, the last day before early investors in the company are free to sell some of their stakes.