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SoftBank Group Offloads Stake Worth $1.7B In Coupang

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SoftBank Group Offloads Stake Worth $1.7B In Coupang
  • SoftBank Group Corp (OTC: SFTBY) (OTC: SFTBF) sold 57 million shares of South Korean e-commerce firm Coupang Inc (NYSE: CPNG) at $29.685 per share on September 14, aggregating to $1.69 billion as per regulatory filings.
  • Coupang's September 14 closing price was $29.87.
  • SoftBank continues as Coupang's largest shareholder, Bloomberg reports.
  • SoftBank sold $14 billion worth of listed stocks last quarter, including DoorDash Inc (NYSE: DASH) and KE Holdings Inc (NYSE: BEKE), investing the cash into technology startups.
  • Coupang shares have lost 40.3% year-to-date.
  • Price Action: CPNG shares traded higher by 1.29% at $29.79 on the last check Friday.
 

Related Articles (SFTBF + SFTBY)

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