Coupang Targets $58 B Valuation on Wall Street

Coupang, a South Korea-based e-commerce company, has raised the price target for its initial public offering (IPO) on the New York Stock Exchange (NYSE), aiming at a valuation of $58 billion.

The IPO is expected to be the largest on Wall Street since Alibaba’s in 2014.

In addition, the boom witnessed by technology firms since the beginning of the Coronavirus pandemic is expected to lead to higher investor’s demand.

Trading the stock of Coupang on Wall Street is expected to begin on Thursday.