The corporate divested about 10% of its shares in the NYSE-listed online marketplace having already sold almost $1.7bn in shares six months ago.

Telecommunications and internet conglomerate SoftBank has divested $1bn of shares in South Korea-based, New York-listed e-commerce group Coupang, according to a securities filing on Friday.

SoftBank Investment Advisers, the subsidiary that manages SoftBank’s Vision Funds, sold 50 million shares in the company for $20.87 apiece, leaving the firm with approximately 461 million. The news came after the corporate had unloaded $1.69bn of shares at $29.69 each in September 2021.

Founded in 2010, Coupang runs a digital marketplace that enables users to order a wide array of consumer items to be delivered to their homes. It floated on the New York Stock Exchange (NYSE) in a $4.55bn initial public offering in March 2021, issuing 100 million shares while shareholders sold an additional 20 million.

SoftBank had paid $1bn for a 20% stake in Coupang in 2015 before transferring those shares to its first Vision Fund after it…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.