Coupang's stock soars above pricing of upsized IPO, boosting market cap to just below $100 billion
Shares of Korea-based ecommerce site Coupang Inc. blasted out of the gate Thursday, as they opened 81.4
Portions of Korea-based web based business website Coupang Inc. impacted out of the door Thursday, as they opened 81.4% over their first sale of stock cost. The organization's 130 million offer IPO, up from a past arrangement of 120 million offers, of which 100 million offers was from the organization and 20 million offers were from selling investors, estimated at $35. That was over the normal scope of somewhere in the range of $32 and $34 an offer. The stock's first exchange was at $63.50 at 12:27 p.m.
Eastern for 8.2 million offers. It has since pulled back to exchange 63.4% over its IPO cost. With about 1.72 billion offers extraordinary after the IPO, the organization's market capitalization at current costs is about $97.97 billion. The stock appearing for the IPO went ahead a day that the Renaissance IPO ETF rose 4.1% and the S&P 500 revitalized 1.4%.