Also Son Jeong-eui… Selling Coupang shares bought at 300 billion won, he got 2 trillion won, 9% of his holdings

The Vision Fund of Japan’s Softbank Group, led by Chairman Son Jeong-eui, sold 57 million shares of Coupang. This is about 9% of the total stake, and the amount is 2 trillion won.

According to a report by the US Securities and Exchange Commission (SEC) on the 16th (local time), Vision Fund sold 57 million Coupang Class A shares at $29.685 per share on the 14th.

The total sale size is 1.69 billion dollars (about 1.9886 trillion won). This corresponds to 9.1% of the total number of 625,156413 shares. The number of Coupang shares held after the sale is 568,156,413 shares.

SoftBank invested 3 billion dollars (about 3.5 trillion won) in Coupang twice in 2015 and 2018. With the sale of the stake, SoftBank recovered 56% of its investment.

As Coupang was listed on the New York Stock Exchange (NYSE) in March last year, Vision Fund is known to hold a 37% stake in Coupang Class A. The sale of the stake is said to be in order to raise funds for investment.

Coupang shares closed at $29.41, up 0.07% from the previous day. The share price, which fell below $30 at the end of last month, is recovering, but is still below the IPO price ($35).

[신미진 매경닷컴 기자]
[ⓒ 매일경제 & mk.co.kr, 무단전재 및 재배포 금지]