SA: South Korea e-commerce giant Coupang indicated at $59-$62 for NYSE open

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.

To read the full post, please click here (free reg. may be required).

You may also want to read this now: “SoftBank-backed Coupang set to soar in market debut“.

And this: “Coupang, the Amazon of South Korea, sees its shares pop in mega US IPO“.