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▽ “File a class A common share statement”
▽ 1 vote per share granted
▽ The quantity and price range of the offer are not determined
Coupang announced on the 12th that it submitted a report to the Securities and Exchange Commission (SEC) for the listing of Class A common shares. / Photo = News 1
Coupang announced on the 12th that it had filed a report with the U.S. Securities and Exchange Commission (SEC) for the listing of Class A common shares.
Class A common shares are entitled to one vote per share. The number of common shares to be traded and the range of offering prices have not been determined. Coupang plans to list its common shares on the New York Stock Exchange (NYSE) under the ticker code ‘CPNG’.
A Coupang official said: “Regarding the IPO, the securities statements will not be filed in Korea,” and said: “There will be no investment requests for domestic investors.”
Meanwhile, last month, Bloomberg predicted that Coupang’s IPO could take place in the second quarter of this year, and analyzed that the corporate value could be estimated at more than $ 30 billion (about 32.6 trillion won). .
Since Coupang started as a social merchant in 2010, it has expanded its influence by introducing direct shopping and its own delivery service, ‘Rocket Delivery’. Sales amounted to KRW 19,159 trillion in 2016, KRW 26,846 trillion in 2017, KRW 43,545 trillion in 2018 and KRW 7,153 trillion in 2019.
Yet despite increased sales, Coupang ran a deficit of hundreds of billions of dollars each year. In 2018, it incurred an operating loss of more than 1 trillion won and posted a deficit of 700 billion won in 2019.
Among them, the securities industry analyzed that there is a possibility that Coupang will become a surplus in a few years. In a report published in November last year, Samsung Securities analyzed that Coupang is expected to record 11 trillion won in sales and 215 billion won in operating losses in 2020, and that there is a possibility of a turnaround in the new anus.
If Coupang is listed on the NASDAQ, IPOs for national e-commerce companies are expected to accelerate as well. Examples of companies planning an initial public offering are 11st, WeMef, Coupang, and SSG.com. They are considering listing in the financial investors (FI) exit plan (financial recovery) and securing investment to sustain growth.
Reporter Lee Mi-kyung, Hankyung.com [email protected]
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