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Deepti Sri · · 1 min readSoftBank sells Coupang shares worth $1.7b
“SoftBank Group’s Vision Fund sold US$1.7 billion in shares of South Korean ecommerce company Coupang, cashing in on one of the fund’s most lucrative investments,” Nikkei reported.
Details:
- SoftBank’s SVF Investments has sold 57 million shares in Coupang at US$29.7 apiece, according to the company’s filing with the US Securities and Exchange Commission.
- The share sale has reduced SoftBank’s stake in New York-listed Coupang to 33% from 36%, according to analysts. SoftBank now holds about 568.2 million Coupang shares through SVF.
Dive deeper:
- In the last financial year, SoftBank logged an annual net profit of US$45.8 billion, which was driven by investment gains from the US listing of Coupang in March.
- Coupang, one of the largest ecommerce players in South Korea, offered 120 million new shares priced at US$27 to US$30 apiece as part of its public listing.
- The company has invested billions of dollars in building its own inventory selection, technology, and business-to-customer logistics. (Read: Can Coupang out-Amazon Amazon in Southeast Asia?)
Editing by Collin Furtado and Arpit Nayak
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