Photo: Reuters
March 8, 2021
South Korean e-commerce giant Coupang Inc.’s initial public offering is on track to be the largest listing by a Korean company in a decade. And, like most of the major tech offerings these days, it’s happening in New York.
There are three big reasons that explain why the U.S. is a better pick for the e-tailer backed by SoftBank Group Corp.’s Masayoshi Son. Perhaps most significantly, New York offers a considerable valuation premium. It also has a deeper, more liquid market, and allows uneven voting rights that would benefit Coupang’s founder, Harvard Business School drop-out Bom Kim.
South Korea stocks slip after three days of gains on concerns over rising Covid-19 cases
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(AP)
. Updated: 17 Feb 2021, 08:13 AM IST Reuters
South Korea s Prime Minister Chung Sye-kyun warned against the loosening enforcement of social distancing rules after the country reported 621 new infections as of Tuesday midnight, the highest levels in 39 days
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South Korean shares fell on Wednesday, after gaining for three consecutive sessions, as the number of new Covid-19 cases hitting the highest levels in 39 days weighed on sentiment. The won weakened, while the benchmark bond yield rose.
The benchmark KOSPI tumbled 42.96 points, or 1.38%, to 3,119.65 by 0202 GMT.
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