Coupang Incorporations is one of the South Korean E-Commerce Giant of which IPO is on and considered one of the largest listings in a decade by any Korean firm or holding. And it is happening on the most popular listing site that is “New York”.
The recent reports state that the way the US is participating in this IPO show they are showing the symptoms of a king of every tech offering. Hence, the major factors that elucidate why the US is a better pick, backed by SoftBank Group Corp.’s Masayoshi Son. In addition, it’s very obvious, New York offers a considerable valuation incentive. It encourages uneven voting rights, more liquid markets and thus eventually profits the Coupang’s Founder – Bom Kim, Harvard Business School drop-out.
The United States of America is one of the top choices when it comes to tech IPOs. As earlier it has bigger debuts namely Airbnb inc. and DoorDash Inc. these both happened in New York. Reports also state that Chinese market players like Alibaba Group Holding Ltd and JD.com Inc. also went for listing there. The expectation and seeking is up to $3.6 billion for Coupang and could drive an overall value of above $50 billion. With this, it could be the largest float by a Korean firm since Samsung in 2010. and that’s quite impressive figures to consider in the global market.
Coupang is quite impressed with its functioning or atleast predawn deliveries. Moreover, it declared that it’ll be giving 15,000 full-time delivery workers (warehouse staff) a total of $90 million in pre-IPO stock.
Bom Kim said in a letter to shareholders while filing for Coupang’s IPO- “We believe we are the first company in Korea to make our front line employees stockholders”.
Last week, on Saturday, a Coupang delivery driver was found dead in an incident. On which Yonhap News stated that it shows symptoms of overwork. Putting light on the mishappening- On Monday Coupang said that the deceased worker had only worked for four days a week on average and for about 40 hours for the past 12 weeks. It also said that it would give efforts to protect the health and safety of the workforce in the coming future. Meanwhile, the raising questions and criticism from the leading workforce organizations were also putting finger into it! But, that doesn’t stop the way it is acquiring a good image in the current IPO in New York.
But no matter what it has been emerging in the IPO and leading ways for US markets as well.
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