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MarketScreener Homepage  >  Equities  >  Japan Exchange  >  SoftBank Group Corp.    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
  Report
End-of-day quote. End-of-day quote Japan Exchange - 04/12
10030 JPY   +0.80%
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SoftBank-backed Coupang aims to deliver mammoth U.S. IPO at over $50-bln valuation

03/01/2021 | 11:03am EDT

March 1 (Reuters) - South Korea's Coupang Inc, which is backed by SoftBank Group Corp, is targeting a blockbuster stock market debut that would value the e-commerce giant at well over $50 billion and make it the largest U.S. initial public offering this year.

In a regulatory filing on Monday, Coupang said it would price its offering between $27 and $30 a share. At the upper end of that range, Coupang will raise as much as $3.6 billion.

The massive offering comes as U.S. capital markets gear up for another banner year for new listings, underscoring unprecedented investor appetite for technology companies, which have seen sales skyrocket during the COVID-19 pandemic.

South Korea's e-commerce market was estimated to be worth $90.1 billion in 2020, an annual growth of 22.3%, and is expected to reach $141.8 billion in 2024 at a compound annual growth rate of 12%, data and analytics company GlobalData has said.

The IPO would also mark a major win for SoftBank's $100-billion Vision Fund, furthering a turnaround that has seen the fund swing rapidly from huge losses to record profit.

Founded in 2010 by Harvard graduate Bom Suk Kim, Seoul-based Coupang made a splash in Korea with its 'Rocket Delivery' service, which promised delivery within 24 hours, shaking family-owned retail conglomerates such as Shinsegae and Lotte.

The projected IPO valuation range of $46 billion to $51 billion would represent a significant jump from Coupang's last private fundraise in 2018 when it was valued at roughly $9 billion, according to data provider PitchBook.

Apart from SoftBank, which has invested billions in Coupang, other major investors include BlackRock Inc, venture-capital firm Sequoia Capital and billionaire investor Bill Ackman.

Coupang plans to list on the New York Stock Exchange under the symbol "CPNG".

Goldman Sachs, Allen & Co, JP Morgan and Citigroup are the lead underwriters for the offering. (Reporting by Anirban Sen and Noor Zainab Hussain in Bengaluru; Editing by Sriraj Kalluvila)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BLACKROCK, INC. -0.05% 807.98 Delayed Quote.12.03%
CITIGROUP INC. 0.37% 72.69 Delayed Quote.17.89%
LOTTE CORPORATION -0.30% 33350 End-of-day quote.-5.52%
SHINSEGAE INC. -0.18% 280000 End-of-day quote.16.91%
SOFTBANK GROUP CORP. 0.80% 10030 End-of-day quote.24.47%
THE GOLDMAN SACHS GROUP, INC. 0.31% 331.84 Delayed Quote.25.84%
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Financials
Sales 2021 5 700 B 52 065 M 52 065 M
Net income 2021 2 682 B 24 494 M 24 494 M
Net Debt 2021 10 124 B 92 468 M 92 468 M
P/E ratio 2021 6,68x
Yield 2021 0,42%
Capitalization 17 412 B 159 B 159 B
EV / Sales 2021 4,83x
EV / Sales 2022 4,72x
Nbr of Employees 80 909
Free-Float 63,0%
Chart SOFTBANK GROUP CORP.
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SoftBank Group Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SOFTBANK GROUP CORP.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 14
Average target price 10 987,46 JPY
Last Close Price 10 030,00 JPY
Spread / Highest target 35,6%
Spread / Average Target 9,55%
Spread / Lowest Target -31,2%
EPS Revisions
Managers and Directors
NameTitle
Masayoshi Son Chairman & Chief Executive Officer
Yoshimitsu Goto Chief Financial Officer & Senior Managing Director
Norikazu Oba Manager-Finance & Planning
Raul Marcelo Claure Chief Operating Officer & Vice President
Tim Mackey Chief Legal & Group Compliance Officer
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