[Featured Stock] Coupang Soars on Expectations of US Nasdaq Listing

[Asia Economy Reporter Park Jihwan] As news spread that Coupang has passed the preliminary review for its Nasdaq listing in the United States, related stocks also showed a strong surge in their prices.

According to the Korea Exchange on the 12th, as of 10:16 AM, Dongbang's stock price rose 29.85% (900 KRW) from the previous trading day to 3,915 KRW. It recorded the daily upper limit price for the second consecutive day following the previous day's limit up. At the same time, KTH also rose 29.96% from the previous trading day to 9,760 KRW. It is showing a sharp rise following a 24% increase the day before.

Dongbang is a logistics company responsible for Coupang's deliveries, and the stock price is interpreted to be strong due to expectations related to Coupang's listing.

KTH is a content distribution subsidiary of KT. It has been classified as a related stock as it is known to be pursuing collaboration on movie content in the online video service (OTT) 'Coupang Play' launched by Coupang at the end of last year.

Earlier on the 11th, Bloomberg reported that Coupang has passed the preliminary review for its Nasdaq listing, and the listing could proceed in the second quarter.