S. Korea’s Coupang seeks to make initial public offering on NY stock exchange

February 12, 2021

South Korean e-commerce giant Coupang Inc. is seeking to have its stocks listed on the New York Stock Exchange, documents showed Friday.

In the documents submitted to the U.S. Securities and Exchange Commission, Coupang revealed its plan to sell an unspecified number of Class A common stocks on the New York bourse.

The South Korean firm had long been expected to make an initial public offering in the U.S., with global news wire Bloomberg earlier suggesting the company would likely make an offering in the second quarter.

Bloomberg had put Coupang’s initial value at US$30 billion.

According to the documents submitted by Coupang, the South Korean firm posted total revenues of about $11.97 billion in 2020, nearly double from $6.27 billion posted the year before, with a net loss of about $474.9 million, down from a net loss of $699 million in 2019.