SEEKING ALPHA reports:
– South Korean e-commerce giant Coupang (CPNG) is indicated to open at $59-$62/share in an IPO after pricing at $35/share last night.
– Coupang is raising about $4.6b for a market valuation of about $60b based on the IPO pricing last night.
– Coupang, which many view as South Korea’s answer to Amazon, had planned to sell 120m shares at $32-$34/share, which had been raised from $27-$30.
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Source: The Loadstar