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MarketScreener Homepage  >  Equities  >  Nyse  >  BlackRock, Inc.    BLK

BLACKROCK, INC.

(BLK)
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BlackRock : Coupang Sets IPO Terms Pushing Market Cap Above $48 Billion

03/01/2021 | 11:29am EDT

By Colin Kellaher

Coupang Inc., the South Korean e-commerce giant backed by Japan's SoftBank Group Corp., on Monday said it plans to sell 100 million shares at between $27 and $30 apiece in its U.S. initial public offering.

A pricing at the $28.50 midpoint of that range would yield net proceeds of about $2.8 billion and would give the Seoul company a market capitalization topping $48 billion.

Coupang said current shareholders plan to sell another 20 million shares in the offering, bringing the total size of the IPO to 120 million shares. The selling holders include entities associated with BlackRock Inc., who are selling about 17.5 million shares.

SoftBank's massive Vision Fund, which holds a roughly 35% stake in Coupang, isn't selling any shares in the offering, according to a filing with the Securities and Exchange Commission.

Coupang said Bom Suk Kim, its founder and chief executive, will still hold roughly 76.7% of its voting power after the IPO.

Coupang said it would have about 1.71 billion shares outstanding after the IPO, for a market capitalization of around $48.6 billion at the $28.50-a-share midpoint.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

03-01-21 1128ET

Stocks mentioned in the article
ChangeLast1st jan.
BLACKROCK, INC. 0.97% 808.35 Delayed Quote.10.96%
SOFTBANK GROUP CORP. -0.50% 9950 End-of-day quote.23.48%
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Financials (USD)
Sales 2021 18 340 M - -
Net income 2021 5 575 M - -
Net cash 2021 3 939 M - -
P/E ratio 2021 22,2x
Yield 2021 1,96%
Capitalization 123 B 123 B -
EV / Sales 2021 6,51x
EV / Sales 2022 5,92x
Nbr of Employees 16 500
Free-Float 87,5%
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Technical analysis trends BLACKROCK, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 17
Average target price 846,18 $
Last Close Price 808,35 $
Spread / Highest target 17,4%
Spread / Average Target 4,68%
Spread / Lowest Target -12,3%
EPS Revisions
Managers and Directors
NameTitle
Laurence Douglas Fink Chairman & Chief Executive Officer
Robert Steven Kapito President & Non-Independent Director
Gary S. Shedlin Chief Financial Officer & Senior Managing Director
Derek N. Stein Global Head-Business Operations & Technology
Robert L. Goldstein Chief Operating Officer & Senior Managing Director
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