SoftBank-backed Coupang increases IPO pricing terms: Reuters

South Korea-based ecommerce firm Coupang has increased its IPO pricing terms, raising the price range of its upcoming offering between $32 and $34 per share, reported Reuters.

South Korea-based ecommerce firm Coupang has increased its IPO pricing terms, raising the price range of its upcoming offering between $32 and $34 per share, reported Reuters. The newswire noted that Coupang is seeking a valuation of more than $58 billion for its U.S. stock market debut. Coupang will start trading its stock Thursday on the New York Stock Exchange under the ticker symbol “CPNG.” Goldman Sachs, Allen & Co, J.P. Morgan, Citigroup and HSBC are the lead underwriters for the offering. Coupang is backed by SoftBank Group Corp.

Source: Reuters