Coupang to debut in New York Stock Exchange

It is hoping to price its offering at $27-$30 per share to raise up to $3.6b.

South Korea’s e-commerce giant Coupang is expected to make its debut on 11 March on the New York Stock Exchange (NYSE), a day after fixing its initial public offering (IPO) price, Yonhap reported from financial industry sources.

The speculation came after the NYSE confirmed that the IPO price for the e-commerce giant would be determined on 10 March.

According to the US Securities and Exchange Commission (SEC) filing, Coupang is hoping to price its offering at between U$27 and $30 per share to raise up to $3.6b. At the upper end of the proposed IPO price, Coupang's market value may amount to $50b.

Coupang's IPO may be delayed if the company’s deal managers require more time to gauge subscription demand. Coupang's CEO Kim Bom is known to be currently in New York for an investment relations tour, seeking to raise the size of investment.

After the IPO, Kim will be holding 10.2% of the company shares, next to SoftBank Vision Fund with 33.1%, Greenoaks Capital with 16.6%, and Greenoaks Capital founder Neil Mehta with 16.6%, according to the SEC filing.