Coupang rides out tech turmoil

摘要

COUPANC staged a stunning NYSE debut on Thursday that pushed its market cap beyond US$100bn at one point, despite pricing its US$4.6bn IPO above an already increased range at the end of a white-knuckle ride for US tech stocks. Although the Nasdaq slumped 2.9% on Monday, the South Korean e-tailer held its nerve and lifted its marketing range the next morning to US$32-$34 a share from US$27-$30 at launch while upsizingthe offering to 130m shares (76.9% primary/23.1% secondary) from 120m.