SoftBank has divested 57 million of its 625 million shares in the NYSE-listed e-commerce marketplace, having invested $3bn between 2015 and 2018.
Internet and technology group SoftBank has sold 57 million shares in South Korea-based e-commerce platform operator Coupang, which went public in March this year, for approximately $1.69bn in total.
The sale valued the shares at about $29.69 each, below the IPO price of $35.00. SoftBank will hold approximately 568 million shares in the company after the transaction.
Founded in 2010, Coupang operates an online marketplace that delivers diversified consumer goods to users on the day of purchase. It…
