SoftBank-backed Coupang surges to over $100b valuation in debut

REUTERS/Josh Smith

SoftBank Group Corp-backed Coupang was valued at around $109 billion in its market debut on Thursday after South Korea’s largest e-commerce company raised around $4.6 billion in the biggest U.S. initial public offering this year.

Coupang‘s stock soared 81% to open at $63.50. The company had priced 130 million shares sold in the IPO at $35 per share, higher than the marketing range $32-$34 per share, giving the Seoul-headquartered e-commerce giant a market value of $60 billion.

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