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Coupang, an e-commerce company, was listed on the New York Stock Exchange today (12th).
The market cap exceeded 100 trillion won as the transaction began at a price that was more than 80% higher than the initial public offering price.
This is a report from correspondent Kim Jong-won in New York.
<Reporter> The
flag of Coupang was hung with the Korean flag on the New York Stock Exchange.
Listed here on the New York Stock Exchange today, Coupang started trading at $63, up 80% from its initial public offering price of $35.
Coupang emerged as the largest foreign company after Alibaba, a Chinese e-commerce company listed on the New York Stock Exchange with a market cap of 72 trillion won based on the public offering price. It also surpassed the corporate value of Baidu, a company.
This is the second largest market capitalization after Samsung Electronics among domestic companies.
Afterwards, Coupang closed the deal at a level that increased by 40% compared to the offering price while reducing the rate of increase.
Coupang, which is somewhat unfamiliar to Americans, is introduced as Korea's Amazon and is said to have successfully debuted in the stock market.
However, future prospects are somewhat mixed.
Compared to Amazon in the US or Alibaba in China, there is a perception that the stock price will continue to rise as it is seen that the sales growth rate is much higher than that of other competitors. There is.
In fact, Coupang's share price-to-sales ratio is somewhat higher than that of Amazon or eBay in the US.