South Korean e-commerce giant Coupang Inc. has unveiled its filing for the original U.S. public offering that is expected to be the largest of foreign company Albaba Group Holding Ltd.
The filing features a company that is growing at a rapid pace and with declining losses. It generated $ 12 billion in revenue in 2020, up from $ 6.3 billion in 2019, and lost down to $ 475 million from $ 699 million.
The Seoul company had already filed for listing privately, as companies tend to do now, and made the paperwork public on Friday.
The bid, which is expected to be valued at more than $ 50 billion, could happen as early as March, according to people familiar with the matter. Alibaba was valued at about $ 168 billion when it went public.
If Coupang debated next month, it would enter a red-hot IPO market. So far in 2021, $ 68 billion worth of stock has been sold on U.S. exchanges, far down all year-to-date amounts and what has been raised in many whole years, according to data from the research company Dealogic.