Softbank-backed Kapang captured $ 84bn market cap at US trading start

Softbank-backed Kapang captured $ 84bn market cap at US trading start
Softbank-backed Kapang captured $ 84bn market cap at US trading start

Shares of South Korean e-commerce company Coupang rose 41% on its initial public offering (IPO) price of $ 35 during its US market debut on Thursday. The shares closed at $ 49.25, giving the company a market value of over $ 84 billion. Softbank-backed Coupang's IPO was the largest by any Asia-based company in New York since Alibaba's $ 25 billion listings in 2014.

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