[Special Stock] Dongbang, Coupang Passes US Nasdaq Preliminary Review... Expanding Investment Capacity with 30 Trillion Won Valuation

[Asia Economy Reporter Hyungsoo Park] Dongbang, the logistics-dedicated carrier for Coupang, is showing strong performance. It appears that expectations for Coupang to strengthen its growth engine through an IPO have influenced the stock price.

As of 12:29 PM on the 11th, Dongbang is trading at 2,900 KRW, up 25.0% from the previous day.

On this day, an economic newspaper reported that Coupang recently received preliminary review approval for a Nasdaq listing through its lead underwriter Goldman Sachs. It is expected that a Nasdaq listing could be possible as early as March.

Coupang is estimated to have recorded sales of 11 trillion KRW and an operating loss of 200 billion KRW last year. Sales increased by 55% compared to the previous year. The operating loss is believed to have decreased by 70%. Coupang's corporate value is estimated to be between 25 billion and 30 billion USD. It is expected that successful capital injection through the IPO will create additional investment capacity.

Earlier, major foreign media reported that Coupang's initial public offering (IPO) is expected to take place in the second quarter of this year. Dongbang signed a contract with Coupang in December 2018 to become its logistics-dedicated carrier.