South Korea’s Coupang files for mega US IPO at over $50bn valuation

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South Korea’s Coupang files for mega US IPO at over $50bn valuation

Coupang Inc., the Seoul-based South Korean e-commerce megalith employing more than 37,000 workers, backed by the Japanese tech investment tycoon SoftBank Group Corp., had filed for a blockbuster US IPO (Initial Public Offerings) on Monday with US SEC (Securities and Exchange Commission) that in effect would value the online retailing giant at more than $50 billion, making the eleven-year old South Korean e-commerce start-up a potential candidate to bring in the largest US IPO this year.

On top of that, in a regulatory filing with US SEC (Securities and Exchange Commission), Coupang Inc. was quoted saying late in the day that it was targeting to tag its initial offerings’ prices between $27 and $30 per share, while at the top-end of its offerings’ prices, Coupang could shelve a whopping upsum of $3.6 billion.

Nevertheless, followed by the Coupang Inc announcement made late in the day, several analysts were quoted saying that a Coupang Inc IPO could further underscore an insatiable appetite of investors for the tech stocks, which had fuelled up a high-flying rally in the Wall Street during the pandemic outbreak and helped US money markets reach record closing highs on multiple stages.

Coupang eyes above-$50bn valuation in mammoth US IPO

In tandem, an IPO filing for Coupang Inc. with US SEC came forth at a critical time, while US IPO markets have been chartering at their strongest in more than half a decade following a pandemic-hurt dour 2020, suggested analysts.

Founded back in the 2010s by a Harvard graduate Bom Suk Kim, the S. Korean e-commerce giant became an iconic tech unicorn in less than a decade and made an extra-ordinary splash with a ‘Rocket Delivery’ service that promises to deliver a product within 24 hours of making a purchase, while Coupang Inc.’s targeted IPO valuation range between $46 billion and $51 billion would mark up a sky-scrapping jump compared to its latest fundraising campaign three years earlier, when the Seoul-based e-commerce titan was valued at just $9 billion.