Cooley-Led Korean E-Commerce Giant Delivers $4.6B IPO

By Elise Hansen (March 11, 2021, 7:44 PM EST) -- South Korean e-commerce giant Coupang rang in a blockbuster initial public offering Thursday, raising nearly $4.6 billion in an upsized debut guided by Cooley LLP.

Coupang Inc. priced 130 million shares at $35 apiece on Thursday, and the share price jumped up to open at $63.50 on the New York Stock Exchange. Coupang's Class A common shares are trading under the symbol "CPNG."

The offering was upsized from Coupang's earlier plan to sell 120 million shares at a $32 to $34 price range, U.S. Securities and Exchange Commission filings show. Unlike many IPOs, the offering does not include an overallotment option...

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