Economy

South Korean online retail giant gears up for mega stock market in US | Financial

With the going to the US stock exchange, Coupang wants to raise up to $ 3.6 billion from investors. The South Korean retail company’s offering price is between $ 27 and $ 30 per share. On its debut, its stock market value would be a whopping $ 50 billion, the most expensive new entrant in the US this year.

The Japanese investment company Softbank Group is an important partner for Coupang. In 2015, an amount of $ 1 billion was deposited for a participation in the South Korean retail giant. Asset manager BlackRock has also stepped on board.

Fast deliveries

Coupang, which saw the light in 2010, is best known for its lightning-fast deliveries. The company claims that 95% of orders arrive on consumers’ doorsteps within 24 hours.

Due to the ongoing lockdowns, Coupang is doing very well. In the past year, the number of orders by consumers has increased rapidly.

The sunny climate for IPOs has opened the door for Coupang to pave the way to Wall Street. The founder Born Kim also has a background as an American student.

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