Roehl Niño Bautista · · 1 min readSoftBank sells $1b in Coupang stake as Vision Fund’s investments slide
Vision Fund, the tech-focused investment arm of SoftBank Group, has let go of US$1 billion worth of shares in South Korean ecommerce firm Coupang, reported Reuters.
This comes after the Japanese conglomerate reported a 97% drop in its numbers for the third quarter of 2021, with Vision Fund’s gains on investment slipping by 92% in the same period.
Softbank still has 461.2 million Coupang shares after unloading 50 million of them at US$20.87 apiece. It sold US$1.7 billion worth of Coupang stock last year at US$29.7 per share.
Established in 2010, the South Korean challenger to Amazon made an IPO record in its US debut. Coupang currently leads its local market worth US$92 billion as of 2021.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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